#ArizonaBTCReserve 🔥Arizona has taken a historic step towards the adoption of Bitcoin as a strategic reserve. Bills SB 1373 and SB 1025 were approved in their third and final reading and are now ready to be sent to Governor Katie Hobbs for her signature.

*Key details of the Bitcoin reserve in Arizona:*

- *Investment allowed*: Up to 10% of the state's public funds may be invested in Bitcoin and other digital assets.

- *Strategic Reserve Fund*: A fund will be established to hold seized cryptocurrency assets and future appropriations, with mandates for on-chain auditability and standardized risk controls.

- *Assets under management*: The Arizona State Treasury oversaw more than $31.4 billion in assets in 2023, meaning they could potentially invest up to $3.14 billion in Bitcoin and other digital assets.

- *Potential impact*: If implemented, Arizona would become the first U.S. state to formally hold Bitcoin in its treasury, which could set a precedent for other states and sovereign governments.

Governor Katie Hobbs has not yet signaled her position on the bills, and her signature is needed for the Bitcoin reserve to become a reality. Some experts and residents have expressed concerns about Bitcoin's volatility and its potential to facilitate tax evasion, but others see this initiative as an opportunity to position Arizona as a leader in cryptocurrency adoption.