From Gold to Bitcoin: Arizona Considers Establishing the First Digital Reserve in America.
The Arizona State Legislature recently passed two bills to create the first Bitcoin reserve at the state level, known as the "Arizona Strategic Bitcoin Reserve." The legislation allows the state to invest up to 10% of its public funds, which exceed $30 billion, in digital assets like Bitcoin. This move, led by Republicans, aims to hedge against inflation and attract interest in cryptocurrencies. However, the fate of the bills is still pending a decision by Democratic Governor Katie Hobbs, who can either sign them into law or use her veto power to reject them. If approved, Arizona would become the first U.S. state to adopt such a digital reserve.
