Arizona is moving towards becoming the first state in the U.S. to establish a strategic Bitcoin reserve through two key bills:
🏛️ SB1025: Arizona Strategic Bitcoin Reserve Act
This bill, co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, allows up to 10% of public funds under the control of the state treasurer and retirement systems to be invested in Bitcoin and other cryptocurrencies. It includes security measures such as cold storage and multi-signature authentication. Additionally, it contemplates the possibility of storing these assets in a segregated account within a federal Bitcoin reserve, if the U.S. Department of the Treasury establishes one.
🪙 SB1373: Strategic Digital Assets Reserve Bill
This bill establishes a fund to manage digital assets seized by the state or allocated through legislative appropriations. It allows for investing up to 10% of the fund's value annually and contemplates the possibility of lending assets, as long as it does not increase risk.
