Arizona Officially Enacts Bill, Ready to Build First Strategic Bitcoin Reserve in the US!
Arizona has taken a significant step in the world of cryptocurrency by passing two bills that allow investment of up to 10% of public funds into Bitcoin and other digital assets.
This move positions Arizona as the first state in the United States to formally hold a strategic Bitcoin reserve. The two bills are now awaiting the signature of Governor Katie Hobbs to be enacted.
Innovative Legislation
SB1373, which proposes a broader digital asset reserve, was approved with 37 votes in favor and 19 against. State Representative Jeff Weninger explained that this bill grants the authority to invest up to 10% of public funds in Bitcoin (BTC) and possibly other cryptocurrencies.
Arizona is now at the forefront compared to several other US states considering similar legislation. If enacted, Arizona will be the first state to officially hold Bitcoin as a strategic asset, despite criticism from economists like Peter Schiff.
