Principle Signed for Bitcoin and Cryptocurrencies in the USA: Only One Approval Remains! - Coin Bulletin

The state of Arizona in the United States, by approving a bill that allows up to 10% of public funds to be invested in digital assets such as Bitcoin (BTC), has set a precedent in the world of cryptocurrency.

According to information shared by Bloomberg Government, the Arizona Strategic Bitcoin Reserve Act, which was passed in the state legislature on Monday, allows the state treasury and pension funds to invest up to 10% of their total assets in digital assets such as Bitcoin. The bill, supported by Republican Senator Wendy Rogers and House member Jeff Weninger, is now awaiting the signature of Democrat Governor Katie Hobbs.

If this step occurs, Arizona will officially become the first state in America to direct public funds to invest in Bitcoin and other digital assets. The law states that integrating digital assets into public financial management is a clear indication of the increasing acceptance of cryptocurrencies within the traditional financial system.

In addition to Arizona’s leadership in the U.S., states such as Iowa, Missouri, and Texas are also considering establishing similar strategic Bitcoin reserves. At the federal level, President Donald Trump signed an executive order in March of this year envisioning the creation of a strategic Bitcoin reserve and digital asset stock.

On the other hand, the world’s leading asset management companies BlackRock and Fidelity have also announced their recommendations regarding Bitcoin investments. BlackRock suggests a share of 1% to 2% for Bitcoin in investment portfolios, while Fidelity has recommended a higher rate, suggesting an investment of 2% to 5%.