#ArizonaBTCReserve Arizona's Bitcoin reserve bill, also known as the Arizona Strategic Bitcoin Reserve Act (SB1025), has passed the Senate Finance Committee with a 5-2 vote. This bill allows up to 10% of public funds, including state treasuries and retirement systems, to be invested in Bitcoin. If passed, Arizona will be the first state to do so. The bill includes measures for safe storage, such as cold and multi-signature wallets, and strict oversight protocols to minimize risks.
*Key Provisions:*
- *Investment Limit*: Up to 10% of public funds can be invested in Bitcoin
- *Storage*: Secure, segregated accounts within a strategic Bitcoin reserve
- *Pension Funds*: Allows pension funds to allocate resources to Bitcoin
This move could modernize state finances and provide a hedge against economic instability.