The Arizona Senate Finance Committee approved a bill on January 27, allowing public funds to invest in Bitcoin and other digital assets. Co-sponsored by Senators Wendy Rogers and Jeff Weninger, the bill permits up to 10% of public funds to be invested in virtual currencies.
If enacted, Arizona would be the first state to officially commit public funds to Bitcoin investment. Dennis Porter, CEO of the Satoshi Action Fund, noted that at least 15 other states are considering similar legislative measures regarding Bitcoin reserves.