The state of Arizona in the United States (USA) has made a groundbreaking move in the world of cryptocurrency by approving a bill that allows up to 10% of public funds to be invested in digital assets such as Bitcoin (BTC).
According to information shared by Bloomberg Government, the Arizona Strategic Bitcoin Reserve Act, which was accepted in the state assembly on Monday, allows the state treasury and pension funds to invest up to 10% of their total assets in digital assets such as Bitcoin. The bill, supported by Republican Senator Wendy Rogers and House member Jeff Weninger, is now awaiting the signature of Democratic Governor Katie Hobbs.
If this step is realized, Arizona will officially be the first state in the USA to direct public funds to invest in digital assets like Bitcoin. The law states that the integration of digital assets into public financial management is a clear indication that cryptocurrencies are increasingly being accepted within the traditional financial system.
In addition to Arizona's leadership, states such as Iowa, Missouri, and Texas are also evaluating the creation of strategic Bitcoin reserves. At the federal level, President Donald Trump signed an executive order in March that foresaw the establishment of a strategic Bitcoin reserve and digital asset stockpile.
On the other hand, leading asset management companies BlackRock and Fidelity have also shared their recommendations on Bitcoin investments. While BlackRock recommends a 1% to 2% allocation for Bitcoin in investment portfolios, Fidelity made a higher recommendation, suggesting an investment range of 2% to 5%.