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BITCOIN SEASON 2: US States FOMO into Bitcoin?
May 3, 2025
Arizona is leading the charge to create a strategic Bitcoin reserve, with two key bills awaiting approval. This pioneering move offers a glimpse into how other states like Texas and New Hampshire are scrambling to draft their own Bitcoin legislation. With 40 bills in play across the U.S., the race is on to see which state can effectively manage and invest in Bitcoin assets. The challenges of custody, security, and political hurdles are also explored as states navigate this evolving crypto landscape.
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Quick takeaways
- Arizona is leading the push for strategic Bitcoin reserve bills, allowing up to 10% state fund allocation to Bitcoin pending gubernatorial approval.
- State responses to Bitcoin legislation vary considerably, with Texas opting for more conservative investment limits compared to Arizona's aggressive approach.
Deep dives
Arizona's Strategic Bitcoin Reserve Bills
Arizona has taken the lead in introducing strategic Bitcoin reserve (SBR) bills, positioning itself as a potential first state to allow the holding and buying of Bitcoin. Two separate bills have passed in the state legislature and are awaiting the governor's signature, moving Arizona ahead in the race among states. One bill allows for the state to invest up to 10% of its funds in Bitcoin, including seized digital assets, while the second focuses on purchasing Bitcoin actively, echoing similar strategies proposed at the national level. While the momentum appears favorable, the possibility of a veto by the Democratic governor raises questions about final enactment.
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