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The Defiant 2025-01-28 18:58:09

Arizona Advances Legislation to Create Strategic Bitcoin Reserve

The Arizona State Senate Finance Committee has greenlit a bill to allow the state to create a strategic Bitcoin reserve (SBR), allowing it to diversify its financial portfolio. The bill (SB1025), co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, was approved by the Arizona Senate Finance Committee on Jan. 27 with a five to two vote, according to the state’s official website . It will now proceed to a full Senate floor vote for further consideration. If enacted, Arizona would establish an SBR, making it the first U.S. state to adopt this approach to cryptocurrency. This move marks a significant step toward integrating digital assets into state-level financial strategies and underscores the growing trend of using Bitcoin as a hedge against financial upheaval. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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