icon
icon
icon
icon
$300 Off
$300 Off

News /

Articles /

Arizona Moves to Create Strategic Bitcoin Reserve, Bitcoin Surges 1.313%

Crypto FrenzyMonday, Apr 28, 2025 7:58 pm ET
1min read

Bitcoin's latest price was $95085.90, up 1.313% in the last 24 hours. This surge in price has sparked renewed interest in the cryptocurrency market, with many investors and analysts speculating on the factors driving this growth. One of the key developments contributing to Bitcoin's recent performance is the increasing institutional adoption of the cryptocurrency. Companies and financial institutions are recognizing the potential of Bitcoin as a store of value and a hedge against inflation, leading to significant investments in the asset.

In a significant move, Arizona became the first state in the United States to pass legislation creating a Strategic Bitcoin Reserve. The bill, sponsored by Republican Senator Wendy rogers, was approved by both chambers of the legislature on April 28, with votes largely falling along party lines. The legislation authorizes the state treasury to invest a portion of public funds in Bitcoin, aiming to diversify assets, hedge against inflation, and position Arizona at the forefront of digital financial innovation. Proponents of the bill highlight Bitcoin's fixed supply and decentralized nature as advantages over traditional fiat reserves, especially in light of concerns over national debt and currency devaluation. However, critics have raised concerns about Bitcoin's extreme price volatility and the lack of federal regulation surrounding cryptocurrencies, questioning the wisdom of investing public funds in such speculative assets. The bill now awaits Governor Katie Hobbs' consideration, who has pledged to veto all bills until a new budget is passed, casting uncertainty over the bill's prospects. If signed into law, Arizona would become the first us state to officially integrate Bitcoin into its fiscal strategy.

Meanwhile, Strategy, formerly known as microstrategy, made a significant acquisition of 15,355 Bitcoin worth $1.4 billion last week, marking its third-largest purchase of the asset this year. The Tysons, Virginia-based company now owns around 554,000 Bitcoin. This acquisition was funded through a mix of sources, including the sale of 4 million worth of common shares and $37.5 million raised through the sale of its perpetual "STRK" preferred stock. Strategy's recent purchase is part of its ambitious "21/21 Plan," which involves raising $21 billion through an at-the-money equity offering program and $21 billion by issuing fixed-income securities like strk. With this acquisition, Strategy is over halfway through its three-year roadmap to buy Bitcoin using corporate debt. The company has sold around $20.9 billion worth of common shares since establishing its equity offering program and can still sell $29.92 worth of STRK shares through a program established in March. Strategy's stock price has rallied, reflecting the company's commitment to Bitcoin as a strategic asset.

Ask Aime: Why is Arizona creating a Strategic Bitcoin Reserve?

Comments

Add a public comment...
Post
User avatar and name identifying the post author
Dosimetry4Ever
04/29
$MSTR 380 by tomorrow morning
0
Reply
User avatar and name identifying the post author
Accomplished-Back640
04/29
$MSTR Could even reach $450 this week Wahoo
0
Reply
User avatar and name identifying the post author
Candlelight_Fant4sia
04/29
$MSTR with how much they're buying... this stock could hit $1200 by October
0
Reply
User avatar and name identifying the post author
Powerballs
04/29
$MSTR Why's there no earnings info here Bullish though
0
Reply
User avatar and name identifying the post author
MisterFinishLine
04/29
$MSTR closing price for the day
0
Reply
User avatar and name identifying the post author
Agriandra
04/29
$MSTR If bears think they're tough, short it before May 1.
0
Reply
User avatar and name identifying the post author
bmrhampton
04/29
@Agriandra What’s your plan with $MSTR? Holding long or taking profits?
0
Reply
User avatar and name identifying the post author
VegasInvestor702
04/29
$MSTR No earnings info here like other stocks Why's that I wonder 💭 still optimistic
0
Reply
User avatar and name identifying the post author
PlatHobbits7
04/29
$MSTR it will reach $1000 I promise you... mark it.
0
Reply
User avatar and name identifying the post author
Impressive_Sentence7
04/29
@PlatHobbits7 Really? I think it's a tough call.
0
Reply
User avatar and name identifying the post author
Tiger_bomb_241
04/29
$MSTR Last push to drop before trying to avoid a gamma squeeze at open tomorrow
0
Reply
User avatar and name identifying the post author
Howell--Jolly
04/29
$MSTR omg Not possible
0
Reply
User avatar and name identifying the post author
neilupinto
04/29
$MSTR looks set to take off
0
Reply
User avatar and name identifying the post author
DeepDragonfruit8361
04/29
$MSTR what a fantastic buy and hold said no one ever
0
Reply
User avatar and name identifying the post author
MCKnghtn
04/29
@DeepDragonfruit8361 Ever held $MSTR long? Curious if you think it's still a good bet now.
0
Reply
User avatar and name identifying the post author
GoodCoffeee
04/29
Bitcoin over $95k and climbing. Institutions piling on make it feel like the good ol' days. 🤑 What's your take on the next resistance?
0
Reply
User avatar and name identifying the post author
Progress_8
04/29
Arizona going all in on Bitcoin? 🚀 Could be a game-changer if it passes. Gotta love some wild west vibes in crypto.
0
Reply
User avatar and name identifying the post author
tenebrium38
04/29
Bitcoin's fixed supply vs. fiat chaos makes it appealing. States like Arizona might hedge smartly by jumping on the crypto train.
0
Reply
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
You Can Understand News Better with AI.
Whats the News impact on stock market?
Its impact is
fork
logo
AInvest
Aime Coplilot
Invest Smarter With AI Power.
Open App