States Are Racing to Throw Taxpayers' Money Into "Strategic Cryptocurrency Reserves"

Quick Summary:

On Tuesday, the Arizona state Senate Finance Committee passed the "Strategic Bitcoin Reserve Act," also known as SCR1005, up to the Senate Rules Committee for review.

Like rats in a flood Black Friday shoppers of yore, state governments are crawling over each other to be the first to dump their taxpayer's money into the blockchain.

And though the threat of missing out on door busters might seem urgent, the real danger lies in the scramble.

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Article Details

Author / Journalist: Joe Wilkins

Category: Technology

Markets: United States

Topics: Blocknik Crypto Economy Politics Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-02 @ 12:00:50 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: futurism.com

Language: English

Article Length: 801 words

Reading Time: 5 minutes read

Sentences: 27 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Futurism

News ID: 25726310

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