How Texas Got Bipartisan Support to Buy $10 Million Worth of Bitcoin - Ep. 859
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The state of Texas just passed a law that creates a $10 million strategic Bitcoin reserve.
Laura talks to Lee Bratcher, president of the Texas Blockchain Council, who helped drive this new law. He explains how bipartisan support made it possible, why this might be the start of a broader trend, and what’s next for public Bitcoin ownership in the U.S.
We get into:
- The logic behind the $10 million number
- Why custody and compliance are key
- Whether California or Illinois could ever do something similar
- And how other states are reacting
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- Links:
- Texas Blockchain Council
- Bloomberg: Texas Gov. Abbott Signs Bill to Create State Bitcoin Reserve
- Unchained: Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support
Timestamps:
🎬0:00 Intro
🏛️ 2:12 How the idea for a $10M strategic Bitcoin reserve became law in Texas
💰 5:42 Why lawmakers settled on $10 million—and what that number really means
🔐 8:59 How Texas plans to custody its bitcoin, and why it matters
📉 10:59 Why the bill includes language about using derivatives for BTC
🏦 12:12 What exchange the state might use to actually buy the bitcoin
🗳️ 14:59 Who owns crypto in Texas—and whether politics play a role
🤝 18:05 Why Bitcoin isn’t such a partisan issue in the Lone Star State
🧡 22:20 How Lee Bratcher got orange-pilled into Bitcoin
📜 24:38 Why Lee thinks the Lummis-Gillibrand bill could pass, and the future of bitcoin bonds
🌎 27:45 Which state might be next to adopt a Bitcoin reserve law
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