- The push for the governor of Arizona, Katie Hobbs, to sign the SBR has already started.
- The price of Bitcoin reported a bullish feeling, with the next target greater than $ 99,000.
After months of lobbying and speculation, Arizona has become the first state in the United States to adopt a Bitcoin Reserve Strated Bill (SBR) in the two houses. On Monday, at the end of the North American session, Arizona House adopted Bitcoin Reserve Bill SB 1025, with 31 yes against 25 no.
Consequently, the state of Arizona will invest 10% of public funds per year in Bitcoin to cover itself against inflation and macroeconomic uncertainties. Meanwhile, the SB 1025 bill now awaits the final approval of the Governor of Arizona, Katie Hobbs, member of the Democratic Party.
The last push for the implementation of Bitcoin SBR in Arizona
As Coinpedia previously reported, Governor Hobbs threatened with veto to all bills until a bill on the financing of disabilities is adopted by the two chambers. In the middle of the controversy, Dennis Porter, CEO and co-founder of the Satoshi Action Fund, asked American voters to push their elected leaders to implement the strategic invoices of Bitcoin reserves as soon as possible.
Market impact
Following the announcement, a training effect is provided for in other states that debate SBR bills. In addition, the Donald Trump administration has highlighted the importance of Bitcoin and Digital assets in the United States.
The price of Bitcoin gained approximately 1% to exchange at around $ 94.5,000 at the time of writing this article. The growing demand for bitcoin by whale investors will play a crucial role in its rally beyond the resistance range between $ 95,000 and $ 99,000 in the coming weeks.
