U.S. State Advances Groundbreaking Bill to Invest Public Funds in Bitcoin

Arizona is making waves with a bold proposal to integrate Bitcoin into its public investment strategy.

On January 27, the state Senate Finance Committee approved the “Arizona Strategic Bitcoin Reserve Act,” a bill that could allow the state to allocate up to 10% of public funds into digital assets like Bitcoin. If enacted, this would make Arizona the first U.S. state to officially invest public money in cryptocurrency.

The legislation, co-sponsored by Wendy Rogers and Jeff Weninger, also includes provisions for securely storing these assets, with the potential to integrate them into a federal Bitcoin reserve if such a system is established.

This forward-looking approach reflects the growing influence of digital currencies on state-level financial planning.

Meanwhile, the confirmation of Scott Bessent as Treasury Secretary this week aligns with Arizona’s pro-Bitcoin stance. Bessent, a vocal critic of central bank digital currencies, is seen as an ally for crypto adoption at the federal level, which could lend support to initiatives like Arizona’s.

Dennis Porter, co-founder of the Satoshi Action Fund, noted that Arizona is leading the charge as the first state to advance such legislation. While similar proposals are being introduced in at least 15 states, Arizona’s progress could set a precedent for broader adoption of Bitcoin as a strategic public asset.