#ArizonaBTCReserve
The Arizona legislature has passed the Strategic Bitcoin Reserve Act, which, if signed into law by Governor Katie Hobbs, would authorize the state Treasury and pension funds to invest up to 10% of their available funds in Bitcoin and other digital assets.
Key Points:
* First in the U.S.: If enacted, Arizona would indeed become the first U.S. state to legally invest public funds directly into Bitcoin.
* Senate Bills 1025 and 1373: The legislation consists of Senate Bill 1025, which allows for the investment, and Senate Bill 1373, which establishes the Digital Assets Strategic Reserve Fund.
* Digital Assets Strategic Reserve Fund: This fund would hold seized crypto assets and future appropriations. It mandates on-chain auditability and standardized risk controls.
* Potential Investment: A 10% allocation could mean up to $3.14 billion invested in digital assets, including Bitcoin and potentially NFTs. This could equate to approximately 31,000 BTC.
* Governor's Approval Pending: The bills are now awaiting the signature of Arizona Governor Katie Hobbs. While she had previously hinted at vetoing legislation due to budget disagreements, a bipartisan deal on disability funding has eased those concerns. However, her stance on the Bitcoin reserve bills specifically is not yet clear.
Several other U.S. states are also considering or have introduced legislation related to Bitcoin and cryptocurrency investments of public funds, including:
* Texas: The Texas Senate approved a bill to establish the Texas Strategic Bitcoin Reserve.
* Oklahoma: A House committee advanced legislation to create a Bitcoin reserve and allow investments in alternative currencies.
* New Hampshire: The Senate approved a bill allowing the state treasurer to invest a portion of public funds in Bitcoin and precious metals.
* Florida: The state's CFO is assessing the benefits of adding Bitcoin to state-managed pension funds.
