US States have been racing to build their strategic Bitcoin Reserves, with Texas recently passing the SB 21 bill, as it proceeds to a floor vote. This decision comes soon after Arizona also passed a law to enact its own strategic reserves. Following Donald Trump’s victory last year, BTC has taken center stage, with the majority of the US states willing to integrate it into their financial system.
Bitcoin Reserve Becomes Priority for US States
This week has been eventful as US states have taken the call to build Bitcoin reserves. In the last 48 hours, two states – New Hampshire and Arizona – enacted a law to build their strategic BTC reserve. Interestingly, one has a Republican governor and the other has a democratic governor, with Bitcoin being a common uniting force with a larger goal. Now, with Texas joining the race, crypto industry veteran Gary Cardone noted:
“GAME THEORY IGNITED! Tic Tok. We have one clean decision by NH, then reversal from Arizona Gov, next is Texas who hasn’t done anything Big since Big Oil and Gas!”
However, not every US state has joined the Bitcoin party. Earlier this week, Florida decided to dump its BTC Reserve plans, with rumors of Arizona also working on a similar decision. However, Arizona lawmakers seem to have a change of heart at the last moment. With the signing of House Bill 2749 into law, House Commerce Committee Chairman Jeff Weninger passed the BTC law with bipartisan support. He wrote:
“Digital assets aren’t the future—they’re the present. This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency. It’s exactly the kind of policy we should be leading on—modern, precise, and built with an understanding of where technology and finance are heading.”
BTC Eyes $100K Breakout
The Bitcoin price continues to inch forward, gaining another 2.3% and moving past $99,000, as US States make big announcement on Bitcoin reserves. A breakout above $100K levels will set the stage for its rally to fresh all-time highs.
Bitcoin surged by nearly $3,000 following China’s announcement of a ¥1 trillion economic stimulus injection.. On the other hand, the US Federal Reserve has kept interest rates unchanged at 4.25-4.5%, for the third consecutive time, after the Jan and March meetings earlier this year.
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