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.

Arizona has made history as it becomes the second US state to establish a state-managed Bitcoin and Digital Asset Reserve Fund.

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