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Arizona has made a significant move towards legalizing Bitcoin 
$87,554 reserves. The state Senate approved two separate Bitcoin bills, sending them to the House of Representatives. In contrast, states like Wyoming and Montana have rejected similar proposals due to Bitcoin’s high volatility.
Arizona Greenlights Bitcoin Reserves
The Arizona Senate voted 17 to 12 in favor of the Strategic Digital Asset Reserve Act (SB 1373) on February 27. The bill’s architect, Republican Senator Mark Finchem, envisions the inclusion of Bitcoin and other cryptocurrencies in the state treasury.
According to the law, the state treasurer cannot invest more than 10% of total deposits in Bitcoin each fiscal year. Additionally, the treasury’s cryptocurrencies can be lent under specific regulations to generate extra income, provided it does not pose any financial risk.
Wyoming and Montana Oppose Bitcoin Reserves
Unlike Arizona, Wyoming and Montana are not receptive to the idea of establishing Bitcoin reserves. Officials believe that the largest cryptocurrency‘s frequent sharp price fluctuations make it risky for public funds.
The high volatility in the cryptocurrency market reinforces these concerns. Indeed, Bitcoin lost 17% in value this week, dropping below $80,000, with predictions suggesting it may fall to the $70,000-$75,000 range. Some economists argue that Donald Trump‘s trade policies have contributed to market uncertainty.
Michael Saylor ignited discussions by advising investors, “Hold onto Bitcoin, even if it means selling a kidney.” He continues to advocate for the U.S. to establish an official Bitcoin reserve.
