Key dealers
- Arizona approves bills to create Bitcoin Reserve and invest up to 10% of public assets.
- The initiative aims to attract blockchain innovation and adapts to other states’ legislative efforts.
Arizona legislature approved Two groundbreaking bills today that can establish the state as the first in the country to create a Bitcoin reserve.
The House of Representatives passed the Senate Bill 1025 and the Senate Bill 1373, with both measures now waiting for Governor Katie Hobb’s signature.
The legislation would enable Arizona to invest up to 10% of the Treasury and pension assets in digital assets, including Bitcoin, through SB 1025, while SB 1373 establishes a strategic reserve fund for digital assets.
The bills approve the use of seized crypto assets and future grants to build the reserve, using the chain review and standard risk controls. Arizona’s Move reflects similar legislative efforts in Texas, Florida and New Hampshire.
Bitcoin traded close to $ 95,000 after the Arizona votes and marked an increase of 25% from early April lowness in the midst of renewed institutional demand.
At the same time, the governor Hobbs, who previously threatened to veto all legislation until issues of disability funded, financed, the Filthot after a two -party agreement on April 24.
Governor Hobbs has not yet signaled his attitude to the Bitcoin Reserve bills, but a decision in the coming days can either cement Arizona management in Bitcoin adoption or force an override attempt.
