#ArizonaBTCReserve
Arizona Paves the Way for the First State-Backed Bitcoin Reserve in the U.S
1. Legislative Initiative:
Arizona lawmakers passed two major bills focused on creating a Bitcoin and digital asset reserve for the state.
2. SB 1025 ā Arizona Strategic Bitcoin Reserve Act:
Allows investment of up to 10% of state public funds in Bitcoin.
Applies to the Arizona State Treasurer and public retirement systems.
3. SB 1373 ā Strategic Digital Assets Reserve Bill:
Establishes a reserve fund of digital assets, including cryptocurrencies.
Assets can include those seized through criminal cases.
4. Current Status:
Both bills have passed the state legislature.
Awaiting the governorās signature to become law.
5. Historical Significance:
If enacted, Arizona would be the first U.S. state to hold a government-backed Bitcoin reserve.
6. Market Context:
Bitcoin has seen mild positive change in its market price, with an intraday high and low within a certain range.
7. Broader Trend:
Reflects a growing movement among U.S. states toward crypto integration in public finance.
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