Arizona Pioneers Bitcoin Reserve: A New Era for State Finance - EconoTimes

Arizona has signed historic bills into law to form a Bitcoin reserve, the initial US state to legally count digital assets as a portion of its public funds. The bills, SB1025 and SB1373, enable the state treasurer and retirement system to invest up to 10% of any public funds in digital assets, with Bitcoin leading the charge. This would potentially divest some $3.14 billion in digital assets, creating a "Digital Assets Strategic Reserve Fund" comprised of forfeited crypto assets and future appropriations.The new bill requires on-chain auditability and normalized risk management to secure public funds. Investments will fall under Arizona's public fund management, aligning it with regulation and oversight. The bills before signing into law by Governor Katie Hobbs are a vote of confidence in the increased demand for digital assets at state and federal levels, providing an opening for other states.While proponents view a Bitcoin reserve as diversifying government assets and hedging against inflation, critics point to the price volatility of Bitcoin and the lack of widespread federal regulation. Taxpayer money should not go into speculation coffers, others demand. If Arizona goes the maximum permissible 10%, it will have an investment of around 31,000 BTC on its books, making it one of the top institutional bitcoin holders in America. Breathing through your nose when you exercise may make your runs easierEntrepreneurs are facing a mental health crisis — here's how to help themAre fish oil supplements as healthy as we think? And is eating fish better?Will AI kill our creativity? It could – if we don’t start to value and protect the traits that make us humanDoes AI have a right to free speech? Only if it supports our right to free thoughtHow can I lower my cholesterol? Do supplements work? How about psyllium or probiotics?Why we need to set limits on sperm donationAging with a healthy brain: How lifestyle changes could help prevent up to 40% of dementia casesSeven techniques to avoid weight regain, approved by experts