! 🚀 The state’s House of Representatives just passed two bills, SB1025 and SB1373, aiming to establish a Bitcoin and crypto reserve. 🪙 The votes were close, but both bills made it through, with SB1025 approved 31-25 and SB1373 passing 37-19.
These bills propose allowing Arizona to allocate up to 10% of its strategic reserves to Bitcoin and other digital assets. State Rep. Jeff Weninger highlighted this as a forward-thinking move, putting Arizona on par with 15 other states considering similar legislation. ⚖️
While Governor Katie Hobbs previously hinted at vetoing bills without bipartisan funding solutions, the approval of related legislation on April 24 might soften her stance. If signed into law, Arizona could lead the way in crypto adoption at a state level. 🌟
Arizona’s move to adopt Bitcoin reserves could legitimize crypto on an institutional level, driving demand and potentially boosting prices. It might attract institutional investors, push for clearer regulations, and encourage wider adoption. This sets a precedent for other governments to follow, fueling crypto's mainstream growth.
Stay tuned—crypto’s future in Arizona looks brighter than ever!
