#ArizonaBTCReserve🌐💥 Arizona is marking a milestone in the financial history of the U.S. 🇺🇸💸 By passing two bills that would allow the state to hold reserves in Bitcoin and other digital assets, it positions itself as a pioneer in the institutional adoption of cryptocurrencies. 🏛️🪙
👉🏻 What's happening?
On April 28, the Arizona House of Representatives approved two key bills:
• SB1025: Would allow the state to invest up to 10% of public funds in Bitcoin and other digital assets. 🏦📈
• SB1373: Would establish a digital asset reserve fund, including seized cryptocurrencies and funds allocated by the state. 💼🔐
These bills had already been approved by the state Senate in February, with votes of 17-11-2 for SB1025 and 17-12 for SB1373. 🗳️✅
🤔 Why is it important?
Financial innovation: Arizona could be the first state in the U.S. to officially adopt Bitcoin as part of its state reserves. 🚀🌍
• Investment diversification: The measure aims to protect public funds against inflation and economic volatility. 📊🛡️
• Boost to crypto adoption: It could encourage other states to consider similar policies, marking a national trend. 🔄🇺🇸
🤔 What now?
Although Governor Katie Hobbs initially expressed her intention to veto projects without bipartisan funding solutions, the recent approval of related legislation may indicate a greater openness to these initiatives. 🧭🤝
📌 Sources: Cointelegraph - Coinatory: Arizona Senate Advances Bitcoin Reserve Bill
🤔💬 What do you think about Arizona's decision? Should other states follow suit and diversify their reserves with cryptocurrencies? 🏛️📉
Leave us your comment and share this news with your crypto-enthusiast friends! 🔄👥
