Austin’s Bitcoin scene is booming

Crypto miners and investors are flocking to Texas’ capital city.

By Alexandra HartMarch 28, 2024 1:16 pm, ,

Bitcoin seems to be making a comeback. The cryptocurrency has been surging in value lately, in part because of the recent Securities and Exchange Commission approval of Bitcoin exchange traded funds. Along with the resurgence is a growing bitcoin culture in Texas’ capital city.

Tech expert Omar Gallaga joined the Standard to talk about why Austin has become such a hotspot for bitcoin miners, venture capitalists and cryptocurrency fans.

Highlights from this segment:

– Austin saw in influx of many blockchain companies during the pandemic – particularly from California – who were lured by the lack of state income tax in Texas, as well as relatively lower cost of living.

– The Austin scene also includes a lot of venture capitalists and investors from more mainstream companies. South By Southwest crypto panels and the Bitcoin Commons are just a few of the other aspects that lend themselves to the city’s burgeoning crypto culture.

– The approval by regulators of exchange traded funds, or ETFs, helped legitimize bitcoin as an investment and fueled the currency back to record levels.

If you found the reporting above valuable, please consider making a donation to support it here. Your gift helps pay for everything you find on and Thanks for donating today.