If you thought governance was just about boring old laws and taxes, think again. Texas has decided to throw a bit of pizzazz into its political portfolio by jumping headfirst into Bitcoin – because, why not? On November 20, 2025, Texas President of the Blockchain Council, Lee Bratcher, casually announced that the Lone Star State had bagged a cool $5 million worth of BTC. Just like shopping at Prada, but instead of shoes, it’s digital gold. 💸🤠
And in an expertly cheeky move, Texas allocated half of its Bitcoin budget to BlackRock’s IBIT, because apparently, they like their crypto like they like their barbecue: well-seasoned and carefully curated. The average purchase price was a lofty $87k – presumably financed by the state’s spare change from selling cowboy hats and inflatable bulls. Yeehaw! 🐂
CORRECTION: Texas purchased $5M on Nov. 20th. The total $10M budget is still in the pipeline, probably hiding behind some legislative backroom. @BitcoinMagazine – Lee ₿ratcher, probably sipping bourbon
– Lee ₿ratcher (@lee_bratcher) November 25, 2025
Texas Doubles Down: Because Why Not?
Unfazed by the usual political chaos, Texas has decided to moonwalk straight into the crypto spotlight, aligning itself with President Donald Trump’s ambitions of being the ultimate crypto hub. They’re building a Bitcoin treasury, folks, because what’s more Texas than investing in something that’s as unpredictable as a rodeo clown? 🤡
Under Governor Greg Abbott, the state has become the gold (or should I say, Bitcoin?) standard of crypto friendliness-so much so that other states are probably rolling their eyes from afar. Still, laws are in place: only Bitcoin is allowed, thanks to a law that mandates the average market cap over the past 24 months exceeds $500 billion. Because regulations are the new frontier of cowboy diplomacy. 🤠💼
Why Is Bitcoin’s Price Still Playing Hard to Get?
While Bitcoin’s price has been more stagnant than a dried-up creek, the whales – those hefty investors with wallets larger than a Texas mansion – remain hesitant to buy the dip. CryptoQuant analysts suggest that we might have already seen the bottom, but don’t start pinning your hopes to that just yet. It’s still a choppy ride, sort of like trying to steer a steer through a herd of stampeding cattle.
Has Bitcoin Found Its Bottom? The Data Says Maybe…
“BTC may have found a local bottom, supported by a strong rebound from:
100-1k BTC holders.
>10k BTC holders.
But the crucial 1k-10k cohort? Still sending signals that they’re not done distributing…”
– CryptoQuant.com (@cryptoquant_com) November 25, 2025
Long story short? The big guys with buckets of Bitcoin are hoarding, while the middling folks are still selling off. Until the price decisively jumps above $92k, expect some dance steps that resemble a jittery two-step rather than a smooth waltz. Buckle up! 🎢
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2025-11-26 01:08