The state of Arizona, USA, recently passed the "Strategic Bitcoin Reserve Act" (SB1025), allowing up to 10% of state public funds (approximately $31.4 billion of assets amounting to $3.15 billion) to be invested in Bitcoin, becoming the first state in the nation to legislate the establishment of a Bitcoin reserve. The bill still requires the governor's signature, and if implemented, the state may purchase approximately 31,000 BTC, becoming the second largest public Bitcoin holding entity in the United States. This move could encourage 15 other states to follow with similar legislation.