- Arizona sets a U.S. precedent by legally holding Bitcoin in native form and creating a state-managed Bitcoin Reserve Fund.
- New Hampshire and Arizona lead the crypto policy race as both states enact laws integrating Bitcoin into public financial systems.
- Bitcoin nears $99K amid strong technical momentum, with rising state-level adoption signaling bullish sentiment and long-term utility.
Arizona has officially signed House Bill 2749 into law, creating the nation’s first Bitcoin Reserve Fund at the state level. This bold legislative move makes Arizona the first U.S. state to hold digital assets like Bitcoin in their native form. The bill, signed by Governor Katie Hobbs on May 7, 2025, updates Arizona’s unclaimed property laws and paves the way for digital asset custody and utility. It not only recognizes Bitcoin as legitimate property but also sets a precedent for how governments can manage and invest in crypto assets.
Moreover, the law enables qualified custodians to stake these digital assets and collect rewards or airdrops. These earnings will directly fund Arizona’s Bitcoin and Digital Assets Reserve Fund. The fund will help raise public knowledge of cryptocurrencies and assist educational efforts. The bill’s sponsor, Representative Jeff Weninger, emphasized that the law protects property rights without growing the government or raising taxes.
Strong Political Support and Broader Momentum
The bill passed both state chambers with bipartisan backing. As Chairman of the Commerce Committee, Weninger called digital assets “the present” and a key to Arizona’s fintech leadership. Additionally, a related proposal, SB 1373, is awaiting the governor’s signature. If signed, it will allow up to 10% of Arizona’s Budget Stabilization Fund to be allocated to Bitcoin.
Elsewhere, New Hampshire joined the state-level crypto wave. Governor Kelly Ayotte signed HB 302 into law on May 6, making New Hampshire the first state to establish a Strategic Bitcoin Reserve. The bill permits the treasurer to invest up to 5% of state funds in Bitcoin and other digital assets.
Bitcoin Price Breaks Resistance Near $99K
Meanwhile, Bitcoin’s price surged to $98,726.20, marking a 1.69% daily gain as per captain Faibik. This bullish trend began in late April following a brief consolidation phase. The BTC/USDT shows a strong ascending channel with consistent higher highs and higher lows.
Source: Captain Faibik
Furthermore, the latest surge pushed Bitcoin near the $99,000 psychological level, confirming bullish momentum. Key support held at $94,000, even after several retests. Consequently, analysts view this technical strength as a sign of sustained upward pressure.
