Bitcoin as State Reserve and Retirement Provision: Texas Invests Millions, German Investors Bet on Crypto Pensions

Texas Takes Action: Invests Ten Million Dollars in Bitcoin

The U.S. state of Texas has capitalized on the recent Bitcoin price decline and built up Bitcoin exposure worth a total of ten million U.S. dollars on November 20 ^[1]. Of this amount, five million U.S. dollars initially flowed into the BlackRock ETF IBIT, while a further five million has been earmarked for a directly held, self-custodied Bitcoin purchase ^[1].

According to Lee Bratcher of the Texas Blockchain Council, the state is currently still working on the final self-custody process, which is why the first tranche was processed via the ETF ^[1]. The allocation comes from general state funds, with not all ten million U.S. dollars having been utilized to date ^[1].

America's First State Bitcoin Reserve?

The move could be directly related to Texas's plan for a strategic Bitcoin reserve, which was legally enabled in June by Governor Greg Abbott ^[1]. However, it remains unclear whether the current purchase is directly linked to this plan. According to the law, the reserve may only contain assets with a market capitalization exceeding 500 billion U.S. dollars – a criterion that ETFs like IBIT do not meet ^[1].

Observers such as Pierre Rochard view the move as a signal of a political shift in the United States, away from earlier concerns toward active state BTC purchases ^[1]. Texas is also considering adding Ethereum to the state reserve, provided its market capitalization remains above 500 billion U.S. dollars for at least 24 months ^[1].

However, Texas is not the first U.S. state to invest in Bitcoin ETFs. Wisconsin already invested approximately 100 million U.S. dollars in the Bitcoin ETF in 2024 ^[1]. With this move, Texas joins prominent IBIT investors, including Harvard and Abu Dhabi ^[1].

Germany: Bitcoin as Retirement Provision Goes Mainstream

While U.S. states are building institutional Bitcoin reserves, Germany is experiencing a remarkable shift among private investors. A new representative study shows that nearly every other crypto investor in Germany is now using Bitcoin and similar assets strategically for long-term wealth creation and retirement planning ^[2].

The shift is clearly measurable: 48 percent of respondents use cryptocurrencies strategically, while only 37 percent engage in short-term trading ^[2]. The former image of a "gambling instrument" is rapidly losing significance.

Millennials Drive the Trend

Millennials are particularly driving the trend: In the 30 to 39 age group, nearly every other person invests in crypto long-term ^[2]. Older generations are catching up: from age 40, long-term crypto use clearly dominates, reaching 69 percent among 50 to 59-year-olds ^[2]. Even in the 60 to 70-year-old group, two-thirds invest with a focus on retirement ^[2].

Many crypto investors demonstrate a conservative retirement profile despite high return expectations: 62 percent prioritize security over profit maximization ^[2]. Overall, 54 percent of investors hope for long-term value appreciation, while 38 percent explicitly use crypto as a component of retirement planning ^[2].

Paradigm Shift in Perception

BISON CEO Dr. Ulli Spankowski speaks of a paradigm shift: crypto is developing "from speculation to strategic wealth investment" and is "no longer dispensable" in a diversified portfolio ^[2].

The parallel developments on both sides of the Atlantic demonstrate: Bitcoin is increasingly establishing itself as a serious asset class – both for state institutions and for private retirement planning.