Arizona’s Crypto Caper: Will It Be a Hit or a Miss? 🚀💰

by

Oy vey! Arizona’s got a scheme, a real mishigas, called the Digital Assets Strategic Reserve Fund (SB1307). It’s been schmoozing its way through the system and now it’s at the final curtain call. Can you believe it? A whole fund for crypto! What a world! 🤪

But hold your horses, folks! This is happening while Governor Katie Hobbs is busy playing hardball, vetoing bills left and right like she’s auditioning for a role in “Veto: The Musical.” She’s got demands, see? Demands about disability funding. It’s like a Borscht Belt routine gone political! 🎭

So, this SB1307 thingy got a thumbs-up from the House Committee of the Whole. Sixty members, bless their hearts, voted to push it to the final showdown. Will it pass? Will it fail? It’s like watching a Marx Brothers movie, you never know what’s gonna happen next! 🎬

Now, if this thing actually passes, it still needs Governor Hobbs’ okay. And she’s holding all the cards, like a Catskills card shark on a Saturday night. If she doesn’t give the green light, this whole crypto reserve is kaput! 🙅‍♀️

This “strategic fund,” as they call it, will be bossed around by the state treasurer and filled with stuff the state confiscated, plus some money the legislature approves. Sounds like a real “catch-all” to me! 🤔

And get this, the treasurer can blow up to 10% of the fund on digital assets every year! Ten percent! That’s like giving a monkey a machine gun! 🙈

They might even lend out some of the fund to make more moolah, as long as it’s not too risky. You know, like betting your dentures on a horse race. 🐴

Hurdles to approval, Oy Vey!

But don’t get too excited, bubbeleh! SB1307 might still crash and burn, like a comedian bombing at the Apollo. 🔥

Hobbs is threatening to veto anything that moves unless they cough up the disability funding. She’s already nixed 15 bills! Fifteen! That’s a record! 😡

So, if SB1307 goes through before they grease Hobbs’ palm, this whole crypto dream might just vanish like a free lunch. 💨

But hey, American investors are getting all verklempt about it! Bitcoin buys are up, says the Coinbase Premium Index. People are sniffing around the crypto pot, like a schnorrer at a buffet! 🤑

Arizona wants to be the Big Macher of Bitcoin and Crypto in the U.S.!

Arizona’s got chutzpah! They’re trying to be the top dog in digital assets. Just like SB1307, the Arizona Strategic Bitcoin Reserve Act (SB1025) is also heading to the full House for a final decision. Talk about a double whammy! 💥

This Bitcoin Reserve is different from the Digital Assets Strategic Reserve Fund. It wants to throw 10% of public money straight into Bitcoin. Straight in! Like a shot of whiskey! 🥃

They say it’s to diversify the state’s loot into other ways to store value. You know, because regular money is so last century. 🙄

Meanwhile, New Hampshire and Texas are also getting into the act, with their crypto shenanigans going through the motions. 🤠

But Oklahoma? Fuggedaboutit! They dropped the ball. 🏈

All this fuss shows people are getting cozy with digital assets like Bitcoin and Ethereum, pushing them closer to being legit. It’s like watching a nerdy kid become prom king! 👑

Read More

2025-04-18 18:19