#AirdropFinderGuide move to establish the first-ever US Bitcoin reserve. Here's what's happening:

Key Details

- *Legislative Approval*: The Arizona legislature has passed Senate Bills 1025 and 1373, allowing the state to invest up to 10% of its $31.5 billion public funds in digital assets, including Bitcoin.

- *Digital Assets Strategic Reserve Fund*: A new fund will be set up to manage seized or purchased crypto assets, with rules in place for transparency and risk management, including on-chain audit requirements.

- *Potential Investment*: If fully implemented, Arizona could invest around $3.14 billion in digital assets, potentially acquiring approximately 31,000 BTC, making it the second-largest public institutional holder of Bitcoin in the US.

- *Governor's Signature*: The bill is awaiting Governor Katie Hobbs' signature, which would authorize the allocation process. A veto could stall the legislation and freeze related budget allocations ¹ ².

Implications

- *Precedent for National Adoption*: Arizona's move could set a precedent for other states and sovereign governments to integrate digital assets into their public finance frameworks.

- *Market Impact*: The development has contributed to Bitcoin's recent price surge, with the cryptocurrency trading near $95,000 after a 25% recovery from April's lows.

- *Institutional Adoption*: Arizona's initiative aligns with ongoing legislative momentum in states like Texas, Florida, and New Hampshire, exploring Bitcoin-backed reserve strategies to attract blockchain innovation and diversify public asset portfolios ¹.