**Yes**, the state of Texas has purchased Bitcoin as part of its new Strategic Bitcoin Reserve, making it the first U.S. state to do so with public funds. On November 20, 2025, the Texas Comptroller's office allocated $5 million to BlackRock's iShares Bitcoin Trust (IBIT) ETF, acquiring approximately 57 BTC at a price of around $87,000 per coin. An additional $5 million has been approved for a future direct (self-custodied) Bitcoin purchase, bringing the total allocation to $10 million from general revenue. This move follows Senate Bill 21, signed by Governor Greg Abbott in June 2025, which authorized the reserve for assets with a market cap over $500 billion—like Bitcoin—to diversify state holdings and position Texas as a crypto leader.
The purchase came during a Bitcoin price dip, signaling long-term confidence despite volatility, and has been hailed by industry figures like Texas Blockchain Council President Lee Bratcher as the start of broader adoption. Critics, including some economists, argue it's a risky, lobbyist-driven bet on a speculative asset, but supporters see it as fiscal innovation akin to Texas's historical embrace of oil and gas. As of December 4, 2025, the ETF holding remains in place while self-custody infrastructure is finalized, with no further purchases reported yet.