Arizona Leads U.S. States in Bitcoin Investment Push

Arizona's Strategic Bitcoin Reserve Bill Gains Momentum

Arizona is poised to become the first U.S. state to invest in Bitcoin using public funds, as its Senate Finance Committee recently approved SB1025. Sponsored by State Senator Wendy Rogers and Representative Jeff Weninger, the bill allows up to 10% of public funds to be invested in Bitcoin. The bill, which passed with a 5-2 committee vote, now moves to the Senate Rules Committee before a full Senate vote.

The term "public funds" includes assets managed by the state treasurer and retirement systems. This move comes amidst a growing trend among U.S. states to establish Bitcoin reserves. Dennis Porter, co-founder of the Satoshi Act Fund, predicts that at least 15 or 16 states will introduce Bitcoin reserve bills in the near future.

Other states, such as Wyoming and Oklahoma, are also exploring similar Bitcoin reserve bills, inspired by Arizona's progress. This trend is partly driven by the crypto industry's strong lobbying efforts, which spent $5.9 million supporting pro-crypto candidates in Arizona alone. President Trump's earlier promises to create a federal Bitcoin reserve added momentum to this trend, though his recent executive order has raised doubts about federal involvement.

The confirmation of Scott Bessent as U.S. Treasury Secretary has further fueled optimism in the crypto space. Bessent, a hedge fund billionaire and digital asset advocate, received bipartisan support in a 68-29 Senate vote. Ripple CEO Brad Garlinghouse praised Bessent's appointment, expressing confidence in his ability to drive innovation-friendly policies for crypto and technology.

To help monitor this growing trend, Julian Fahrer launched the Bitcoin Strategic Reserve Tracker, an interactive tool that provides daily updates on Bitcoin-related legislation. This tracker offers a comprehensive view of the adoption of Bitcoin as a reserve asset across the U.S.