As is well known, many government departments around the world are crazily storing Bitcoin in 2025! Especially in the United States, the Federal Reserve Act on Bitcoin is still in its early stages of review and discussion by committees, but multiple states have already launched a cryptocurrency reserve race of 'you fight me, you chase me'
Arizona and Utah, which have made the fastest progress, have entered the Senate review process:
From a timeline perspective, the action is still very fast, taking Utah as an example: the bill was only submitted on January 15, 2025. Less than a month later, it was voted through on February 6th. According to this progress, maybe the Senate can pass it next month.
This bill allows the Utah Treasury Secretary to invest a portion of the state's specific funding accounts (such as disaster recovery accounts, general funds, income tax reserve accounts, and budget stabilization funds) in Bitcoin. The current proposal allows for an investment of no more than 10% of funds, but may be adjusted to 5% in the future.
But the specific fund account in Utah actually doesn't have much money. As of the fiscal year 2024, specific funding accounts in Utah include:
General Fund: Approximately $430 million.
Budget Reserve Account: Approximately $270 million.
Income Tax Fund Balance: Approximately $150 million.
Disaster Recovery Fund: Approximately $100 million.
The cumulative amount is less than one billion US dollars, so even if the Utah bill is successfully implemented, the funds available for purchasing Bitcoin are only tens of millions of US dollars.
So what everyone should be more concerned about is the progress in Arizona, because Arizona's case of operating pension funds to purchase Bitcoin.
The Bitcoin Reserve Act in Arizona is actually progressing faster. The Senate has already reviewed it several times and is close to passing it by vote. It may be the first state to pass Bitcoin Reserve. Moreover, their case allows pension funds to enter the market, and Arizona's pension assets are as large as $43 billion, so there is still hope for generating hundreds of millions of dollars in buying interest.
According to the specific provisions of the bill, Texas will not directly purchase Bitcoin, but will accumulate Bitcoin by accepting taxes, fees, and donations.
The total annual tax/fee revenue in Texas is approximately $100 billion. If 1% of the bill is used to purchase Bitcoin, it can create a stable buying market of $1 billion per year.
Overall, the future is still worth looking forward to!
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