#ArizonaBTCReverse Arizona has taken a significant step towards becoming the first US state to establish a Bitcoin reserve. The state's legislature has passed two bills, Senate Bill 1025 and Senate Bill 1373, which would allow the state to invest up to 10% of its $31.5 billion public funds in digital assets, including Bitcoin.
*Key Details:*
- *Investment Amount*: Up to $3.14 billion, equivalent to approximately 31,000 BTC, could be allocated to digital assets.
- *Digital Assets Strategic Reserve Fund*: A new fund will be established to manage seized or purchased crypto assets, prioritizing transparency and risk management protocols.
- *Transparency Requirements*: The fund must maintain on-chain auditability and adhere to strict risk controls.
- *Potential Impact*: Arizona's move could legitimize Bitcoin as a mainstream financial asset, encouraging other states to rethink their strategies ¹ ².
*What's Next:*
The bills now await Governor Katie Hobbs' signature to become law. Given the bipartisan support, the odds seem favorable for the plan to move forward. If signed, Arizona's treasurer would be authorized to start building the crypto reserve ³.
This development reflects a broader trend of US states and institutions increasingly viewing Bitcoin as a legitimate reserve asset, with potential implications for cryptocurrency adoption and mainstream finance ².
