Arizona could become the first US state with official Bitcoin reserves as two Bitcoin reserve bills, SB1025 and SB1373, have passed the state legislature and are awaiting Governor Hobbs' signature. These bills could influence the crypto market significantly.

The legislation allows Arizona to invest up to ten percent of its public funds in Bitcoin or other digital assets, reflecting similar limits seen in South Carolina. Governor Hobbs is the final hurdle, having previously blocked laws for funding developmental disabilities but recently resolving the dispute.

Globally, government-held BTC reserves are declining, yet the passage of this law in Arizona could boost Bitcoin demand and encourage more states to consider similar actions, with New Hampshire and Texas considering their own legislation.