Key Takeaways Texas acquired $10 million in BTC on Nov. 20 as part of its newly approved Strategic Bitcoin Reserve initiative. The state made the initial purchase through BlackRock’s IBIT ETF, with plans to self-custody in the future. Texas has become the first U.S. state to purchase Bitcoin for its treasury, acquiring $10 million worth of BTC on November 20 as part of its newly established Strategic Bitcoin Reserve.
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10 sats \ 0 replies \ @0xbitcoiner 25 Nov
WTF
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10 sats \ 1 reply \ @Ge 26 Nov
Lol this was expected I mean is it really a step in right direction?
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10 sats \ 0 replies \ @DarthCoin 19h
No is not.
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10 sats \ 0 replies \ @bitcoingraffiti 20h
Lol, I wonder how these 'paper Bitcoin' fanatics in the comment section here imagine how these ETFs eventually cash out their selling clients. If I was an ETF operator I'd be really stupid not to buy the real Bitcoin. What else was I gonna do with my clients money? You're gonna go bankrupt pretty quickly if you didn't own the underlying. And the higher Bitcoin went, the quicker you get liquidated. If Bitcoin went 10x, only 10% needed to be sold for bankruptcy.
I conclude the ETFs fully own the underlying.
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10 sats \ 0 replies \ @TheBTCManual 21h
Lol the strategic Bitcoin IOU, possibly rehypothicated, paying management fees strategic reserve has been established!
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10 sats \ 0 replies \ @SevenOfNine 26 Nov
According to Texas, there's nothing better than looking at your paper Bitcoin through a hall of mirrors.
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0 sats \ 0 replies \ @denlillaapan 25 Nov
themz not reeeaaaal bitcoin. Oh lol, the Stackers are too funny
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