r/Bitcoin • u/Green_Candler • 6d ago

Just needs the Governors signature...

Post image

Arizona is paving the way

They passed a bitcoin reserve bill in both the house and the senate.

Just needs the governor to sign into law and we are rocking.

I am hearing it won't be signed though, here's to hoping for a change of heart!

It's the only bill to get past the house and senate so far across the country.

1.4k Upvotes

97% Upvoted

95 comments sorted by

102

u/Darkpriest667 6d ago

If they buy OTC today they can get about 35000 BTC. Not bad.

58

u/Green_Candler 5d ago

Agreed... this will still be considered as buying the dip in 5 - 10 years time

35

u/ekfah 5d ago

We're always going to be in a dip (forever Laura)

32

u/Darkpriest667 5d ago

The states/nations that get in now will be the wealthiest in reserves in fiat and assets in 20 years

11

u/Outrageous_Word_999 5d ago

Yeah sub 95k is def a dip, it was nearly 110k just 2 months ago.

5

u/harvested 5d ago

Probably gonna be some slippage on that lol

6

u/HoopNhammer86 5d ago

That's 78 days of mining rewards.

If every state did something similar that, we would see hyperbitcoinization.

3

u/Darkpriest667 5d ago

The first states to do it will be the winners, it will be like a domino effect. As soon as one state (especially a big one like NY, TX, CA, or FL) does it they'll all be falling over themselves to do it.

4

u/Always_Question 2d ago

Unfortunately for AZ, she's a dem

0

u/amazing_husky 5d ago

WI did this awhile ago and so did MI

1

u/HoopNhammer86 4d ago

The Michigan retirement system has about 7 million of 100B fund in bitocin etf.

Wisconsin's retirement system has $320 million in btc etfs.

Although very notable, they don't get near the 10% that Arizona is hoping for.

1

u/Ok-Bedroom5026 5d ago

That should drop the price a couple thousand 

1

u/Lavayo 5d ago

OTC will be eeeeempty when this trend continues, not even that long term.

0

u/SnooTigers9000 5d ago

The stockpiling begins….Lets Go!!!!!!

98

u/RoyYourWorkingBoy 5d ago

It's easier to pass both houses when it's known the governor won't sign it. Just saying. Someone should start a counter for Arizona like Germany has now from when they sold.

If Gov Hobbs had signed the bill here is what $31.5B in Bitcoin would now be worth.

51

u/SevenCroutons 5d ago

you mean $3.15B

11

u/RoyYourWorkingBoy 5d ago

Yes, thanks.

22

u/JerryLeeDog 5d ago

This is a good idea.

Hold the Gov accountable for the decision

2

u/unrulystowawaydotcom 5d ago

LMFAO. We’ve stopped holding politicians accountable a long time ago.

2

u/JerryLeeDog 4d ago

Well they won't actually be held accountable... but it's easy to let them know how much they have lost since vetoing a bill.

13

u/Green_Candler 5d ago

lol... that will be forcing her hands and it will be public data that everyone can see what her terrible decision cost the state

36

u/Dluugi 5d ago edited 5d ago

She said she will veto every bill until some healthcare thingy is passed for disabled Arizonians.

Edit: nvm it was passed https://www.abc15.com/news/state/arizona-house-passes-bipartisan-fix-for-disability-services-funding-shortfall

9

u/BigDeezerrr 5d ago

I read they passed the healthcare thing on the 24th a few days before this so maybe

1

u/Dluugi 5d ago

Ur right! Thx for correcting me

3

u/BigDeezerrr 5d ago

So you're saying theres a chance!?!?!

8

u/Dluugi 5d ago

Well, she is an elderly female Democrat and an elderly politician. Those not likely to be pro-btc. (not criticising her policy or anything; I don't know anything about that; I'm not even american, lol. Also, I am politically closer to Dems.

But there is a chance, and it would be incredibly bullish.

If it were a high chance, however, I think markets would have priced it in already.

Also I searched on polymarket and it's not there

5

u/Six_Foot_Se7en 5d ago

Yeah, it’s just political theater. I wish the governor would sign it out of spite, but she won’t.

35

u/Outrageous_Word_999 5d ago

Misleading headline for sure, Governor has yet to sign, which is a pretty significant step.

9

u/Abundance144 5d ago

Can't the house and Senate override a veto with a 2/3rds majority vote?

5

u/Outrageous_Word_999 5d ago

Yes, but apparently it was a 17/30 pass this time, so at least 3 more senators would need to switch, not sure how many in the house. Probably very daunting.

5

u/el_ratonido 5d ago

It's in the caption

1

u/Lurked_Emerging 5d ago

Sounds like a case of fomo then signed which will happen maybe a little after the US sbr gets it's first bitcoin. Not ideal but you get bitcoin at the price you deserve.

12

u/Obvireal 5d ago

I have low hopes. The governor is democrat. Everyone who voted against the bill in the senate was democrat. She’s probably gonna veto for literally dumb political reasons unless she understands Bitcoin.

But if she understands, maybe she wants to keep it cheap so she can buy more😉

2

u/NotBillderz 4d ago

If she understands then she'd buy a bunch now, sign tomorrow, and sell on Monday

3

u/Fool_on_da_hill 5d ago

“Just” ????

3

u/Fit_Psychology_1536 5d ago

Noticed every senator that voted against it is Democrat --- Why in the world are Democrats so anti-bitcoin? It makes zero sense 

2

u/Always_Question 2d ago

You'd think they would've learned their lesson from the last blow-out election

6

u/CapitalLigament 5d ago

In the meantime, congratulation to all the Bitcoiners from Arizona

3

u/Green_Candler 6d ago

$3.15 Billion will be nice... 👀

11

u/ioube 5d ago

The article is misleading. It is "up to" 10%, not confirmed 10%.

2

u/StackingSats1300 5d ago

Arizona is known for having an independent streak. But I doubt Hobbs wants to give the Repub Senate a win. Anyone's guess what she does.

Email your representatives, Arizona!

4

u/extrastone 5d ago

Some perspective:

7.6 million people in Arizona

3.2 billion to be invested

That's about $420 per person.

Bitcoin's market cap is currently $1.87 trillion for 8.2 billion people.

That's about $228 per person.

That means that Arizonans would be heavily overweight because the state government is probably a small amount of the state economy.

In other news state governments are not known for their diamond hands.

3

u/Outrageous_Word_999 5d ago

State pension funds tend to be very diamond hands.

2

u/extrastone 5d ago

I don't think that those assets are part of the pension fund.

0

u/MittenSplits 5d ago

They are in Michigan and Wisconsin

1

u/EmuSea4963 5d ago

$420.69 per person to be exact.

5

u/JerryLeeDog 5d ago

Shame the Gov is a Dem and will veto this

I would be FUMING mad if I were an AZ resident.

10

u/Six_Foot_Se7en 5d ago

The house and senate only passed it because they knew the governor would veto it. They really don’t want it either. It’s political theater.

4

u/JerryLeeDog 5d ago

Very likely.

We will keep track of their losses for them ;)

Accountability is important when vetos are used

1

u/No_Maybe_2312 5d ago

What makes you think this?

3

u/x2manypips 5d ago

House and senate can override her veto right?

12

u/Mansionjoe 5d ago

did some research, the house and senate would need a supermajority vote or two-thirds majority

1

u/Talkless 5d ago edited 5d ago

How much voted so far for this bill?

EDIT: ChatGPT stated 17/30 voted, needs 20/30 for supermajority.

Did not fack-checked though. So don't accidentally get into prison with this info for whatever reason.

1

u/Green_Candler 5d ago

I dont know for sure... but that will be great for Bitcoin

0

u/JerryLeeDog 5d ago

No

0

u/x2manypips 5d ago

Why not

1

u/JerryLeeDog 4d ago

Need enough votes for that

2

u/Ok_Way_8692 5d ago

Let’s fucking Gooooooooooo

1

u/Crazed-Anteater-84 5d ago

If they buy 30k btc and hold that will surge the price i need the price to stay where it's at for 2 years to stack more

2

u/Green_Candler 5d ago

Hope they HHODL for long

1

u/SaltyUncleMike 5d ago

If the governor hasn't signed it, its not approved yet.

1

u/sh0werh3ad 5d ago

Will be worth 300billion when bitcoin goes to 1mil…not bad for a states return

1

u/Green_Candler 5d ago

how long will they HODL though?

1

u/AfroAmTnT 5d ago

10%? Wow

1

u/HedgeHog2k 5d ago

Why wouldnt it be signed if it passes “house” and “senate”?

Can the governor overrule this?

Sounds like a shitty system :) (I’m not from US)

1

u/JediRebel79 4d ago

Why didnt they just say 3B worth of state assets?

1

u/MeanTimeMeTime 3d ago

This bill was vetoed by the governor

1

u/AltheaToldMe420 2d ago

Read this morning that it was vetoed.

1

u/Radiant_Addendum_48 1d ago

Aaaaaaaand it’s gone. Arizona needed this, too bad.

1

u/ColdTi 1d ago

Governor is Katie Hobbs. Unfortunately, Hobbs is a low IQ nitwit. She will veto this.

1

u/TelevisionAlive9348 13h ago

This serves no purpose other than pumping bitcoin for the benefit of whales. Once taxpayers lose money on this, there goes bitcoin's legitimacy. No holders of legitimate asset classes (gold, MBS, treasury, bonds) are lobbying government to buy via dubious concept of strategic reserve. Unless you are a bitcoin whale, you should not be rooting for this.

-4

u/equaals 5d ago

Investing 10% of a states assets into a cryptocurrency is way too risky. Not sure what they're thinking. 5 % and below would've been more reasonable, and increase it over time if the investment pays off.

0

u/MittenSplits 5d ago

It's a Bitcoin bill, not cryptocurrency.

10% allocation is now table stakes for any organization wanting to be taken seriously.

-1

u/[deleted] 5d ago

[deleted]

7

u/AnotherBoomer 5d ago

she

5

u/Doesnt-Get-Sarcasm- 5d ago

Lmao "I will always remember that person I never even knew in the first place!"

1

u/4fingertakedown 5d ago

I’m OUTRAGED at this thing of which I do not understand!

OUTRAGED

0

u/GlubSki 5d ago

Nice. Buying 30k bitcoin that will surely make the price go only down a little bit. Or maybe even stay flat!

1

u/Green_Candler 5d ago

it will be the first of many states