Arizona followed New Hampshire’s steps to become the second U.S. state to sign a strategic Bitcoin [BTC] reserve into law. This marked a U-turn after a recent rejection of a related bill. Notably, Arizona introduced four BTC reserve bills, according to data aggregator Bitcoin Laws.

Proponents celebrated their legislative victory as a ‘precedent’ for other states to follow, while critics said the state shouldn’t ‘gamble’ with taxpayer money.

Governor Kelly Ayotte signed a bill into law that allows the investment of a portion of the state's public funds in precious metals and crypto assets.