#ArizonaBTCReserve

Both state and federal levels in the U.S. are simultaneously accelerating plans to establish a strategic Bitcoin (BTC) reserve fund. Arizona is one such example!

On April 28, the Arizona House of Representatives approved two bills SB1025 and SB1373, aimed at creating a Bitcoin and digital asset reserve fund. The results are as follows:

SB1025: Amending current law to establish a strategic BTC fund, with 31 votes in favor and 25 against.

SB1373: Establishing a state-level digital asset reserve fund, receiving 37 votes in favor and 19 against.

Both bills “greenlight” the state to invest 10% of available funds into crypto, with Bitcoin as the focus. If Governor Katie Hobbs signs off, Arizona will officially become one of the first states to incorporate Bitcoin into the state treasury.

The biggest hurdle currently is Hobbs' previous commitment; she had declared she would veto all bills until there was a budget solution for the disability care system. However, with the budget concessions approved on April 24, the likelihood of her signing SB1025 and SB1373 is looking promising.

State Representative Jeff Weninger mentioned that about 15 other states are also quietly preparing similar bills. Notable mentions include Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, South Dakota, Ohio, Pennsylvania, Texas, Iowa, Montana, Missouri, Oklahoma, Utah...

The federal level is also getting involved

At the federal level, the wave is even stronger. In March, President Donald Trump signed an executive order directing the establishment of a "Strategic Bitcoin Reserve Fund." Not stopping there, Senator Cynthia Lummis also proposed that Congress allow the federal government to hold over 1 million BTC in the next 5 years.