#ArizonaBTCReserve

Arizona has recently taken a significant step towards integrating cryptocurrency into its financial strategy.

The state legislature has passed two bills, SB 1025 and SB 1373, which, if signed by Governor Katie Hobbs, would establish Arizona as the first US state to create a Bitcoin reserve.

Senate Bill 1025, known as the Arizona Strategic Bitcoin Reserve Act, allows the state treasurer and retirement system to invest up to 10% of available funds in digital assets, specifically Bitcoin.

This bill reflects a growing interest among states to diversify their assets and explore the potential of cryptocurrencies.

These initiatives in Arizona mirror similar discussions and legislative efforts in other states like Texas, Florida, and New Hampshire, indicating a growing trend towards considering Bitcoin and other digital assets as part of public financial management.

If Governor Hobbs approves these bills, Arizona could become a leading example for other states and even sovereign nations looking to incorporate digital assets into their reserve strategies.

As of 2023, Arizona's total public assets under management exceeded $31.4 billion, meaning a 10% allocation could potentially involve a substantial amount in Bitcoin.