#BTC is pumping right now because two major U.S. states — New Hampshire and Arizona — have converted the bill regarding Bitcoin as a strategic reserve fund into law. What does this mean? It means that New Hampshire, which has become the first state to do so in the U.S., is now saying that the state government can buy Bitcoin just like it buys other assets. In other words, the state can invest in Bitcoin too.

They’ve just put two conditions in place. First, the capping: they won’t invest more than 5% of their total portfolio size in crypto. Second, they will only invest in cryptocurrencies that have a market cap of over $500 billion — and currently, that’s only Bitcoin.

Arizona, on the other hand, is saying that the government earns certain types of income such as windfall gains or profits from property. All such income in Arizona will now be converted into Bitcoin. Got it?

So as you can see, two states — within 48 hours — have officially given Bitcoin the status of a strategic reserve asset and turned the bill into law. That’s why Bitcoin is pumping, and it will likely keep pumping.

Because the belief is that since these two major states have taken the step, one after another, more and more states across America will also convert the strategic reserve fund bill into law. This is extremely bullish news for $BTC .

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