#ArizonaBTCReserve Arizona Approves Creation of Bitcoin Strategic Reserve: Could Invest Up to 10% of Its Public Funds.
Arizona is poised to become the first U.S. state to establish a Bitcoin strategic reserve, following the passage of bills SB1025 and SB1373 by its state legislature. These laws would allow the state treasurer to invest up to 10% of public funds—approximately $3.14 billion of the $31.5 billion managed by the state—in digital assets such as Bitcoin and certain NFTs.
Additionally, a "Strategic Digital Asset Fund" would be created to manage seized cryptocurrencies and future allocations, with on-chain audit requirements and standardized risk management protocols.
Final approval now rests with Governor Katie Hobbs, who had previously threatened to veto all legislation until budget disputes related to healthcare for people with disabilities are resolved. However, following a bipartisan agreement reached on April 24, Hobbs is expected to consider signing these bills.
This move positions Arizona as a leader in state cryptocurrency adoption, mirroring a growing trend in other states such as Texas, Florida, and New Hampshire, which are also exploring the inclusion of digital assets in their public finance strategies. If fully implemented, Arizona could acquire approximately 31,000 BTC at the current price, making it one of the largest public entities holding Bitcoin in the US, surpassing corporations such as Tesla and Marathon Digital. Governor Hobbs' final decision is expected in the coming days, which could mark a historic milestone in the integration of cryptocurrencies into state public finance.
#ArizonaBTCRecerve