ArizonaBTCReserve
Here are the latest updates on #ArizonaBTCReserve ¹ ²:
- *Arizona Crypto Bill Progress*: The Arizona crypto bill, SB 1373, has cleared a key hurdle in the House and is one step closer to becoming law, allowing the state treasurer to invest up to 10% of funds into digital assets.
- *Bitcoin Reserve Proposal*: SB 1025 proposes investing up to 10% of funds into a Bitcoin Reserve, including storing BTC in a federal account, which has passed a vote and awaits final decision.
- *Potential Impact on BTC Price*: The progress of these bills has sparked optimism, with some predicting Bitcoin's price could reach $86,000 or even $90,000.
- *Governor's Stance*: Governor Katie Hobbs has pledged to veto new legislation, including the Arizona crypto bill, until funding for disability services is resolved.
- *Market Sentiment*: Technical indicators like MACD and RSI suggest renewed bullish momentum for Bitcoin.
- *Institutional Adoption*: Arizona's move could signal growing confidence in crypto's long-term role in the economy.
- *State-Level Adoption*: Arizona joins Texas and New Hampshire in paving the way for public Bitcoin Reserves.
- *Bill Update*: The Arizona Strategic Bitcoin Reserve Bill passed the Committee of the Whole and is one vote away from establishing a Bitcoin reserve.
- *Price Surge*: Bitcoin's price surged 3.5% after the bill's progress announcement.
- *Trading Volume*: Trading volumes spiked, with over $1.2 billion in BTC traded on major exchanges.
