Texas becomes the first state to buy bitcoin as more states eye cryptocurrencies

[douglas9]

Texas recently became the first state to make a major investment in cryptocurrency with the purchase of about $5 million worth of bitcoin.

The state comptroller’s office, which manages financial transactions and long-term investments, confirmed the transaction to The Dallas Morning News. The purchase followed bipartisan legislation that passed this year creating a state cryptocurrency investment fund.

Similar legislation has been approved in several red and blue states, according to tracking from the National Conference of State Legislatures. This year, at least 40 states saw legislation proposed regarding cryptocurrency, digital currencies and other digital assets.

While other states, including Michigan and Wisconsin, have made pension fund investments in cryptocurrency, Texas became the first to invest state dollars, according to The Dallas Morning News.

“The industry is maturing and growing — it’ll continue to become more mainstream, and I think Texas staking out a leadership position will be very beneficial to Texans over time, similar to what the oil and gas industry has done over the last century,” Lee Bratcher, president of the Texas Blockchain Council that championed the legislation, told the Dallas newspaper. In a social media post, Bratcher said the transaction occurred late last month.

https://stateline.org/2025/12/04/texas-becomes-the-first-state-to-buy-bitcoin-as-more-states-eye-cryptocurrencies/

[Maninacan]

1. why?

I hear Texit coin adverts every day.

[gab13by13]

2. The crooks eventually want cybercurrency backed by the dollar,

What could go wrong, right.

Wish the people who post articles would say how they feel about the article.

This move by Texas scares me.

[mwmisses4289]

3. Great. Wasting taxpayer money again.

Wasn't there something just this week of crypto falling like 3 or 5 percent?

[Blues Heron]

5. 33 percent actually from - 120,000 to 80,000.

[mwmisses4289]

7. Yikes.

I must have heard how much it had dropped in a day. That's still not good, no matter how you slice it.

[surfered]

4. Insane. Weren't shares of Enron or tulips available?

[GreatGazoo]

6. Blatant corruption

Reminds me of when Jeb Bush used FL state pension funds to buy Enron during its collapse.

[Norrrm]

8. Robbing the treasury. Giving taxpayer real money for fantasy money. Every legislator approving this should be made to i

Robbing the treasury. Giving taxpayer real money for fantasy money.

Every legislator approving this should be made to invest half their family's life savings/net worth in the very same crypto to show their confidence in it.

[HelpImSurrounded]

9. Texas becomes first state to beg to bankrupt itself