Arizona is taking another step toward institutional adoption of Bitcoin. A bill to allow the state to hold BTC as a reserve asset has been passed by the local House of Representatives. It is now entering its third reading phase, reflecting a growing trend in the United States: integrating cryptocurrencies into public finances.
A crypto-friendly initiative underway
- An ambitious bill: The bill, if approved at all legislative stages, would authorize the Arizona Treasury to hold Bitcoin as a reserve asset, similar to gold or other traditional financial instruments.
- Strong political support: This bill is being championed by Republican elected officials who view Bitcoin as a response to economic uncertainty and the inflation of the dollar.
Toward institutional recognition of BTC
- A national trend? Arizona joins other US states such as Florida and New Hampshire, also engaged in similar efforts to formalize the use of BTC in public finances.
- Securing public funds: Supporters of the bill argue that Bitcoin, as a deflationary asset, could strengthen the state’s stability and financial autonomy in the face of macroeconomic uncertainties.
Risks and symbolic significance
What this implies:
- Growing legitimacy for Bitcoin as a store of value at the state level.
- A possible redefinition of public treasury management strategies, previously limited to fiat currencies and bonds.
Persistent risks:
- Bitcoin’s structural volatility could expose public finances to significant losses.
- Legal uncertainty remains regarding the compatibility of this crypto reserve with federal regulations.
Conclusion
The Arizona House of Representatives’ vote in favor of the Bitcoin reserve bill marks a new step in the financial transition of American states to digitalization. If the bill passes the final legislative stages, it could make Arizona a pioneer in the integration of BTC into public coffers. An initiative that is as symbolic as it is strategic, in a context where local monetary sovereignty is once again becoming a major issue.
