Bitcoin Hyper Boosts as Texas Is First US State to Buy Bitcoin

Bitcoin's price surged past $90,000, driven by new Wall Street-backed cryptocurrency products, particularly from major financial players like BlackRock and JPMorgan. This significant price movement reflects a renewed interest in Bitcoin amidst a recovering market sentiment.

Nasdaq ISE has filed to elevate the option limits for BlackRock's iShares Bitcoin Trust (IBIT) to top-tier status, reflecting a surge in IBIT options activity and a shift of open interest towards U.S. regulated venues. This move comes amid a backdrop of fluctuating investor sentiment in the cryptocurrency market.

Texas has officially invested $10 million in Bitcoin, becoming the first U.S. state to do so through the BlackRock iShares Bitcoin Trust (IBIT). This purchase, made on November 20, 2025, includes $5 million worth of shares in the ETF, allowing the state to gain exposure to Bitcoin's price movements without directly holding the cryptocurrency. The investment is part of a broader strategy to establish a Strategic Bitcoin Reserve.

Bitcoin experienced a sharp decline in November, losing nearly 25% of its value and erasing over $1 trillion from the cryptocurrency market. This drop was influenced by large holders, or whales, who reduced their positions in the weeks leading up to the crash, taking profits after a rally in October. Currently, Bitcoin is trading around $87,000 after hitting a low of $81,000.

Texas has allocated $5 million into BlackRock's Bitcoin ETF, marking a significant investment during a market dip, which reflects the state's growing confidence in Bitcoin's long-term potential. This move is part of a broader strategy to engage with cryptocurrency as a viable asset class for state reserves.

Metaplanet has secured a $130 million loan backed by its substantial Bitcoin holdings of 30,823 BTC, valued at over $2.7 billion. This move reflects a growing trend among corporations to utilize Bitcoin as a long-term collateral asset rather than merely a trading tool.

Spot XRP Exchange-Traded Funds (ETFs) have made a remarkable entrance into the market, achieving over $164 million in single-day inflows, significantly outpacing other crypto investment products like Bitcoin, Ethereum, and Solana. The launch of Grayscale and Franklin Templeton's XRP ETFs has been particularly noteworthy, with each fund recording over $60 million in net inflows on their debut day.

The cryptocurrency market is witnessing significant activity as BlackRock and Fidelity continue to acquire Bitcoin, while JP Morgan expresses a bullish outlook. Concurrently, Russia is implementing new policies to engage with crypto, indicating a shift in institutional interest and regulatory approaches.