First state approval for Bitcoin in the USA: It is officially becoming law.

The Arizona State Legislature has passed a bill proposing that a portion of public funds be invested in Bitcoin, and it has been submitted for the governor's approval. The bill, called the "Arizona Strategic Bitcoin Reserve Act," officially passed the state legislature on Monday.

If Governor Katie Hobbs signs the bill, Arizona will be the first state to invest in Bitcoin. According to the law, the state treasury and pension system can invest up to 10% of the funds they hold in digital assets, particularly Bitcoin. It is estimated that there are assets worth 70 to 80 billion dollars in public funds managed by the state. If 10% of this is invested in cryptocurrencies, it amounts to an 8 billion dollar share.

The summary of the bill states, "This law reflects a state administration's evolving approach to integrating cryptocurrencies into public financial management."

The proposal was led by Republican Senator Wendy Rogers and House Representative Jeff Weninger.

On the other hand, the establishment of strategic Bitcoin reserves is being discussed in many states such as Iowa, Missouri, and Texas. At the federal level, President Donald Trump had approved the establishment of a national Bitcoin reserve and digital asset stockpile with a presidential decree he signed in March.

Published: April 29, 2025 14:01Last Update: April 29, 2025 14:05