The Arizona State Legislature authorizes the state treasury and pension funds to allocate up to 10% of available funds to Bitcoin and other digital assets. If this bill is signed into law, Arizona will become the first state in the United States to legally invest public funds in Bitcoin. If the Arizona bill takes effect, it may trigger other states to follow suit and even influence policies in developing countries. Arizona's practice will provide a test case for 'state-level crypto reserves' globally, and success could encourage more countries.