Arizona has approved legislation allowing it to invest up to 10% of its public assets, totaling $31.5 billion, in digital assets including Bitcoin. This legislation is a significant step towards the adoption of Bitcoin in the United States.

Reserve Details

- *Investment in Bitcoin*: The new legislation allows for an investment of up to $3.14 billion in Bitcoin, potentially making Arizona the second largest holder of Bitcoin among public entities in the United States.

- *Creation of a Reserve Fund*: The legislation establishes a reserve fund for digital assets to contain purchased and seized assets, with requirements for auditing and risk control.

- *Impact on the Market*: This action could attract innovations in the blockchain space and diversify public asset portfolios.