$BTC $SOL Financial Diversification: A total allocation of 10% ($3.14 billion) could buy ~31,000 BTC at current prices, making Arizona the second largest institutional holder of Bitcoin in the U.S. after Michael Saylor's MicroStrategy.

Legitimization of Bitcoin: By treating Bitcoin as a reserve asset, Arizona could encourage other states (e.g., Texas, New Hampshire) and institutions to follow suit.

Market Impact: The news coincided with the increase in Bitcoin's price to ~$95,000, reflecting renewed institutional confidence.