The state of Arizona has approved the first-ever Bitcoin reserve in the United States, which plans to invest 10% of state assets totaling $31.5 billion.

Arizona lawmakers passed a bill allowing the state to invest up to 10% of public funds in digital assets, including Bitcoin.

The law also establishes a Strategic Reserve Fund for Digital Assets, which utilizes confiscated crypto assets and future allocations.

Senate Bills 1025 and 1373 are now awaiting final confirmation from Governor Katie Hobbs.

The state of Arizona has taken an important step towards the public adoption of Bitcoin in the U.S., as lawmakers approved two bills allowing direct investment of state funds in digital assets.