Family, big news! The Arizona State Legislature has passed two heavyweight Bitcoin reserve bills #SB1025# and #SB1373#. Now we are just waiting for the governor's signature. Once approved, Arizona will become the first state in the United States to officially establish a Bitcoin reserve.

According to the bills, the state treasury and pension system can invest up to 10% of available funds in virtual currencies like Bitcoin. A digital asset strategic reserve fund will also be established, funded by seized assets and legislative appropriations, with a maximum of 10% allocated annually for investing in Bitcoin and other digital assets, and the ability to lend with low risk.

This is a strong boost for the Bitcoin market; as soon as the news broke, the price of Bitcoin surged, trading close to $95,000, a 25% increase from the low point in early April.

Currently, several other states are considering similar legislation, indicating that the status of cryptocurrency in mainstream finance is becoming increasingly important. What do you think the impact of Arizona's move will have on the cryptocurrency market? Let's discuss in the comments!