Source: Coinomedia Original Title: Texas Goes Bullish: $10M Bitcoin Investment Sparks Buzz Original Link: https://coinomedia.com/texas-bitcoin-investment-2/

Texas Goes Bullish: $10M Bitcoin Investment Sparks Buzz

In a bold move that cements its reputation as a crypto-friendly state, Texas has announced a combined $10 million investment into Bitcoin. The Texas Permanent School Fund purchased $5 million worth of BlackRock’s IBIT Spot Bitcoin ETF, while also allocating an additional $5 million to purchase Bitcoin for direct self-custody.

This dual-pronged investment strategy signals confidence in both institutional and decentralized avenues of Bitcoin ownership, showcasing Texas’ balanced approach toward embracing digital assets.

Why the IBIT ETF and Self-Custody?

BlackRock’s IBIT ETF offers state-level investors regulated exposure to Bitcoin without the technical hurdles of direct ownership. This move provides liquidity and transparency while adhering to traditional investment norms.

However, what really sets Texas apart is its decision to also hold Bitcoin directly. By securing $5 million worth of BTC in self-custody, Texas is making a strong statement about the importance of sovereign control over digital assets. Self-custody aligns with the core ethos of Bitcoin—decentralization and individual ownership—making this part of the strategy particularly bullish.

Could This Spark a Trend Among States?

Texas is the first U.S. state to publicly commit to both ETF and direct Bitcoin ownership, and the crypto community is already speculating on which state might follow next. States like Florida and Wyoming, already known for progressive crypto legislation, could be strong contenders.

This move may also influence public pension funds and other institutional investors to consider a diversified Bitcoin strategy, combining regulated ETFs with direct holdings to manage risk and maximize long-term potential.