ARIZONA PASSES STRATEGIC BITCOIN RESERVE BILL IN THE HOUSE !

Arizona has made history by becoming the first US state to pass a Strategic Bitcoin Reserve bill through both the House and Senate. The bill, known as SB 1025 or the "Arizona Strategic Bitcoin Reserve Act," allows the state to invest up to 10% of its public funds in Bitcoin, aiming to protect Arizona's finances from inflation and macroeconomic uncertainties.

Key Details:

Bill Status: The bill has been approved by both the Arizona House and Senate, with 31 votes in favor and 25 against in the House.

Investment Allocation: Arizona plans to allocate 10% of its public funds to Bitcoin.

Next Steps: The bill awaits final approval from Democratic Governor Katie Hobbs, who has expressed concerns and threatened to veto all bills until a disability funding bill is passed.

Potential Impact: A Bitcoin reserve could diversify state assets, protect against inflation, and position Arizona as a leader in digital asset adoption .

Governor's Stance:

- Governor Hobbs has rejected 15 bills and holds the highest veto rate of any US governor in 2024.

- She has criticized the proposed budget as "unserious" and a "complete nonstarter" due to a $122 million funding shortfall.

Industry Reaction:

Dennis Porter, CEO of the Satoshi Action Fund, urges American voters to push leaders to implement Strategic Bitcoin Reserve bills.

The bill's passage may have a ripple effect on other states debating similar legislation .#BinanceAlphaAlert #TrumptaxCuts #ArizonaBTCReserve