What are the specific implementation details of Arizona's Bitcoin reserve program?
Arizona's Bitcoin reserve program is mainly implemented through two bills, SB 1025 and SB 1373, with the specific details as follows:
• Bill SB 1025: Allows the state treasury and pension system to invest up to 10% of available funds in virtual currency, focusing on Bitcoin. If this bill takes effect, Arizona will become the first state in the United States to require public funds to invest in Bitcoin.
• Bill SB 1373: Proposes the establishment of a digital asset strategic reserve fund managed by the state treasurer, funded by seized assets and legislative appropriations, allowing up to 10% to be invested in Bitcoin and other digital assets each fiscal year, with the possibility of lending without increasing risk.
These two bills were passed by the Arizona House of Representatives on April 28, 2025, and are currently awaiting signature from Governor Katie Hobbs.
As the first state in the United States to require public funds to invest in Bitcoin, Arizona's bill may have a demonstration effect on other states, promoting the legalization process of cryptocurrency nationwide and enhancing the state's demonstration effect and policy influence in related policy-making.
With this positive news emerging, will it be possible to break through this month's high point of 95700? We shall see!