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Arizona Takes First Step Toward State Bitcoin Investment with Committee Approval

Arizona's Senate Finance Committee has approved a bill allowing investment of up to 10% of state public funds in Bitcoin

Arizona has moved closer to becoming the first U.S. state to invest public funds in Bitcoin after its Senate Finance Committee approved a groundbreaking bill on January 27, 2025.

The legislation, known as SB1025 or the “Arizona Strategic Bitcoin Reserve Act,” passed with a 5-2 vote and now heads to the Senate Rules Committee.

The bill, co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, would permit the state to invest up to 10% of its public funds in Bitcoin and other virtual currencies. These funds include money managed by the state treasurer and retirement systems.

Arizona Takes First Step Toward State Bitcoin Investment with Committee Approval

Arizona's Senate Finance Committee has approved a bill allowing investment of up to 10% of state public funds in Bitcoin

Arizona has moved closer to becoming the first U.S. state to invest public funds in Bitcoin after its Senate Finance Committee approved a groundbreaking bill on January 27, 2025.

The legislation, known as SB1025 or the “Arizona Strategic Bitcoin Reserve Act,” passed with a 5-2 vote and now heads to the Senate Rules Committee.

The bill, co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, would permit the state to invest up to 10% of its public funds in Bitcoin and other virtual currencies. These funds include money managed by the state treasurer and retirement systems.
https://blockonomi.com/arizona-takes-first-step-toward-state-bitcoin-investment-with-committee-approval/