❗❗❗Bitcoin is finally going to be included in the strategic reserves of the United States. This is the first case in U.S. history of Bitcoin being incorporated into state strategic reserves. The legislative body passed the Senate bill with a significant vote of 37:19, and the state in question is Arizona.
This marks a milestone in Bitcoin's official status and has excited the global cryptocurrency market. However, we cannot celebrate too early, as this bill still needs to pass the final and most critical step, which is the governor's signature to take effect.
If enacted, according to regulations, up to 10% of Arizona's public revenue can be used to invest in Bitcoin and other cryptocurrencies. Based on last year's financial report for this week, which was $31.7 billion, this could result in an additional $3.17 billion entering the cryptocurrency market.
If the bill passes, not only will Arizona become the first state in the U.S. to incorporate Bitcoin into its official reserves, but it may also trigger a chain effect leading other states to follow suit. The fate of this bill is currently in the hands of the governor's successor. He has three options.
The first option is to sign the bill, officially enacting it and pioneering state-level cryptocurrency reserves.
The second option is to overturn the bill.
The third option is to do nothing, in which case the bill will automatically take effect after five working days.
In short, the governor's decision will become a policy barometer affecting the global cryptocurrency market. Although the bill has generated significant positive expectations, Bitcoin's price has only slightly increased, peaking at $95,000 in the past couple of days without a substantial surge.
There could be three main reasons for this. First, the bill is still pending with the governor and has not been officially signed, so the market remains cautious about the final outcome.
Second, Bitcoin's trading volume has been relatively low recently, indicating that market sentiment is still cautious.
Third, the upcoming U.S. GDP data to be released on April 30, along with expectations for interest rate cuts by the Federal Reserve in May and June, could lead to significant market fluctuations in the future. Therefore, many players are choosing to hedge in advance and are not rushing in.
The final result will be revealed in five days. Do you think Bitcoin will truly be officially included in the government this time? Let's gather in the comments section! #山寨币ETF展望