Arizona Strategic Bitcoin Reserve Bill is gaining momentum and has the potential to serve as a model for other states

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Trump’s election trump card, the strategy of Bitcoin Reserve has received widespread support, and there is a possibility that it will soon become a reality.

Dennis Porter, the co-founder of the Satoshi Act Fund, has emphasized the increasing trend among U.S. states to establish Bitcoin reserves. Porter predicts that the number of states introducing Bitcoin reserve legislation will shortly increase to 15 or 16, with at least 11 states, including Texas and Pennsylvania, having already done so. Arizona is making substantial strides in its legislative endeavors, defying the odds. Arizona will be the first state in the United States to invest 10% of its public funds in Bitcoin. What a promising beginning to the new year!

Arizona’s Senate Finance Committee recently approved SB1025, a bill that permits the investment of up to 10% of public funds in Bitcoin, taking the nation by surprise. State Senator Wendy Rogers and Representative Jeff Weninger have sponsored the measure, which is a significant stride toward Arizona becoming the first state to officially maintain digital assets as part of its public funds.

The term “public funds” encompasses retirement systems and assets overseen by the state treasurer. The measure is now on its way to the Senate Rules Committee before a complete Senate approval, following a 5-2 committee vote in favor.

At the same time that Arizona is making strides, other states are also considering Bitcoin as a reserve asset. The crypto industry’s robust lobbying efforts, which have spent $5.9 million supporting pro-crypto candidates in Arizona alone, are partially responsible for this initiative.

Although President Trump’s recent executive order has cast doubt on the federal government’s involvement, his previous pledges to establish a federal Bitcoin reserve have served to bolster this trend. Nevertheless, states such as Wyoming and Oklahoma are adopting Arizona’s approach and investigating Bitcoin reserve legislation that are comparable.

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