Arizona, Second State After New Hampshire, Establishes Strategic Bitcoin Reserve Fund; Texas SB21 Advances with $500M Annual BTC Plan

Arizona has enacted a new law establishing a Strategic Bitcoin Reserve Fund, becoming the second U.S. state after New Hampshire to do so. The legislation, signed by Governor Katie Hobbs, allows the state to hold unclaimed digital assets in their native form and create a reserve funded by earnings from staked assets. This law aims to secure unclaimed cryptocurrencies and position Arizona as a leader in digital asset management. Meanwhile, Texas has passed its Strategic Bitcoin Reserve Bill (SB21) out of the House Committee with an 8-5 vote and is now headed for a final floor vote before going to Governor Greg Abbott’s desk. Texas plans to purchase $500 million worth of Bitcoin annually for its reserve. The development signals a growing trend among U.S. states to establish Bitcoin reserves, with expectations that the number of states with such laws could increase from two to four within the next 60 days. Additionally, El Salvador has recently added to its strategic Bitcoin reserve, underscoring the global momentum behind state-backed cryptocurrency reserves. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io