🔥Arizona's Bitcoin Reserve Initiative
Arizona's state legislature has passed two bills, SB1025 and SB1373, to establish a Bitcoin reserve and invest up to 10% of its public funds in digital assets.
💥Key Details
🔹️Investment Allocation:
Up to $3.14 billion (10% of $31.5 billion) could be invested in digital assets like Bitcoin and NFTs.
🔸️Digital Assets Strategic Reserve Fund:
Manages seized crypto assets and future appropriations with on-chain auditability and risk controls.
🔹️Potential Impact:
Arizona could become the first US state to hold Bitcoin in its treasury, setting a precedent for other states.
💥Next Steps
🔹️Governor's Approval:
Bills await final confirmation from Governor Katie Hobbs.
🔸️Potential Allocation*:
Arizona's Bitcoin reserve could acquire around 31,000 BTC, making it a significant institutional holder.
This initiative aims to modernize state finances and position Arizona as a leader in cryptocurrency adoption.
