The Arizona Senate has approved a bill allowing the state to invest in cryptocurrencies, potentially changing state fund management.
New Initiative in Arizona
The 'Arizona Strategic Bitcoin Reserve Act' aims to create a Bitcoin reserve, allowing investment of up to 10% of state funds. The bill has received committee approval and will be further discussed in the Senate and House.
Other States Follow Suit
North Dakota and New Hampshire are also considering establishing cryptocurrency reserves. Wyoming proposed a similar bill. This movement is supported amid discussions on the prospects for national Bitcoin reserves.
Impact of Trump's Policy
The initiative to create Bitcoin reserves aligns with Donald Trump's pledge to make the USA a leader in the cryptocurrency sphere. However, experts express skepticism due to anticipated regulatory and logistical challenges.
If approved, the bill would position Arizona among the first states to integrate cryptocurrencies into its financial processes, potentially altering the perception of digital assets.
