- Arizona advances the bill to create a Strategic Bitcoin Reserve, allowing public funds in crypto.
- Trump’s digital asset push fuels debate, but market sentiment remains skeptical at 16%.
The growing adoption of cryptocurrencies continues to reshape financial policies across the United States, with Arizona emerging as a key player.
As discussions surrounding a Strategic Bitcoin [BTC] Reserve gain momentum, multiple states, including Texas, Oklahoma, Wyoming, and Massachusetts, have already engaged in preliminary talks.
Arizona’s bold Bitcoin move
Arizona, however, has taken a decisive step forward, advancing a bill that could position it as the first U.S. state to invest public funds in BTC and other digital assets.
If enacted, this legislation would allow up to 10% of public funds to be allocated to virtual currencies, marking a significant shift in how states manage their financial reserves.
That being said, the Strategic Bitcoin Reserve Act (SB1025), co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, has already cleared a major hurdle by passing the Arizona State Senate Finance Committee with a five-to-two vote on 27th January.
The bill now awaits review by the Senate Rules Committee before moving to the House of Representatives for further deliberation.
Notably, this legislation could also pave the way for pension funds to allocate resources to BTC, aligning with shifting generational preferences.
Execs weighing in
Thus, Arizona inches closer to becoming the first state to officially invest public funds in Bitcoin.
Inasmuch, experts like Andy Lian believe this move could trigger a domino effect, encouraging other states to follow suit in integrating digital assets into their financial policies.
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Author: Ishika Kumari
