29.04.2025 14:36
The Arizona State Legislature has approved a bill that allows up to 10% of public funds to be invested in Bitcoin. If the bill is signed by Democratic Governor Katie Hobbs, Arizona will become the first state to mandate this investment.
The Arizona State Legislature has approved a bill that allows up to 10% of the current funds of the state treasury and retirement system to be invested in digital assets, particularly Bitcoin. The bill is now awaiting the signature of Democratic Governor Katie Hobbs. If approved, it will make Arizona the first state to mandate public funds to invest in crypto assets.
Bitcoin Reserve Move on the Agenda in Other States
The Arizona State Legislature has sent a bill to the governor's office that permits investing up to 10% of the current funds of the state treasury and retirement system in digital assets, particularly Bitcoin. The bill was recently passed in the state legislature.
According to the summary of the bill, "This bill represents an evolving approach by a state government to integrate cryptocurrency into public financial management and reflects the increasing mainstream acceptance of digital assets."
The co-sponsors of the bill are both Republicans, Senator Wendy Rogers and Representative Jeff Weninger. If the bill is signed by Democratic Governor Katie Hobbs, Arizona will become the first state to mandate public funds to invest in Bitcoin.
Several states, including Iowa, Missouri, and Texas, are evaluating the establishment of a strategic Bitcoin reserve. At the federal level, President Donald Trump signed an executive order in March to create a strategic Bitcoin reserve and digital asset stockpile.
Some asset managers have provided opinions on how much Bitcoin investors should hold. According to industry sources, BlackRock suggested allocating 1% to 2% of a portfolio to Bitcoin in December. Fidelity recommended a slightly higher range, advising 2% to 5%.