Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-28-25

Good Morning Dinar Recaps,

ARIZONA SENATE COMMITTEE APPROVES STRATEGIC BITCOIN RESERVE BILL

Arizona's move to explore digital asset investments, like Bitcoin, signals a growing trend among states to diversify public funds.

▪️Arizona's Senate Finance Committee approved a bill allowing public funds to invest in Bitcoin.

▪️The bill permits investment of up to 10% of public funds in virtual currencies like Bitcoin.

Arizona lawmakers have advanced a bill allowing public funds to invest in Bitcoin and other digital assets, with the state Senate Finance Committee approving the measure in a 5-2 vote on January 27.

Co-sponsored by Wendy Rogers and Jeff Weninger, the proposed legislation, known as SB1025 or “Arizona Strategic Bitcoin Reserve Act,” allows the state to invest up to 10% of public funds, including those held by the state treasurer and retirement systems, in virtual currencies like Bitcoin.

The bill also includes provisions for storing digital asset holdings in a secure segregated account within a potential federal Strategic Bitcoin Reserve if the Secretary of the Treasury establishes a strategic Bitcoin reserve for government holdings.

The US Senate on Monday also confirmed Scott Bessent as Treasury Secretary on a vote of 68 to 29, with bipartisan support. As a supporter of Trump’s economic policies, Bessent opposes a central bank digital currency and is seen as pro-Bitcoin.

Following its passage through the Finance Committee, Arizona’s Bitcoin reserve bill now moves to the Senate Rules Committee, which will set parameters for floor debate and amendments. If approved by the full Senate, the measure will proceed to the House of Representatives.

According to Dennis Porter, CEO and co-founder of the Satoshi Action FundArizona is the first state to have a bill specifically focused on creating a Bitcoin reserve pass through a legislative committee.

If this bill becomes law, Arizona would be the first state to officially invest public funds in Bitcoin.

As of Jan. 27, eleven states have introduced their respective Bitcoin reserve bills, according to Porter. He noted in a separate post, "I can confirm that at least 15 states will introduce ‘Strategic Bitcoin Reserve’ legislation. Maybe even 16."  He also noted, "As a reminder, only 3 months ago this number was zero."
@ Newshounds News™

Source:  
CryptoBriefing

~~~~~~~~~

U.S. CRYPTO RESERVES SHOULD INCLUDE XRP TOO: RIPPLE CEO GARLINGHOUSE

▪️Ripple CEO advocates for a U.S. crypto reserve to include Bitcoin and other tokens.

▪️Brad Garlinghouse calls for collaboration, not competition, within the crypto industry.

▪️Bitcoin supporters argue only Bitcoin should be included in the U.S. crypto reserve.


Brad Garlinghouse, the CEO of Ripple, has stirred up the conversation around the U.S. government’s plans to create a national digital asset reserve.

While some Bitcoin supporters argue that only Bitcoin should be included, Garlinghouse believes that the reserve should be more inclusive, featuring Bitcoin alongside other cryptocurrencies like Ripple’s XRP. His bold stance challenges the status quo and raises important questions about the future of digital assets.

Brad Garlinghouse thinks collaboration, rather than competition, is the key to crypto’s success.

A Vision for Crypto’s Growth

Garlinghouse’s main message is that the cryptocurrency industry can thrive more if different cryptocurrencies work together instead of competing against each other. In a recent tweet, he pointed out that focusing on one cryptocurrency over others is not the way forward. He believes success in the industry will come through collaboration, not rivalry.

He stressed that the crypto market should not be a “zero-sum game,” where the success of one digital asset means the failure of another. Garlinghouse, who owns multiple cryptocurrencies, including XRP, Bitcoin, and Ethereum, wants a fairer playing field where all digital assets can succeed.

Why a Diversified Digital Reserve Matters

Garlinghouse believes any government-backed digital asset reserve should be diversified.

“If a government digital asset reserve is created, I believe it should be diversified. It should include more than just one token, whether it’s BTC, XRP, or any other.”

Ripple has been actively working with U.S. regulators to ensure XRP is part of the conversation about digital asset reserves. Garlinghouse believes that having a balanced reserve will help grow the cryptocurrency industry as a whole, benefiting more than just Bitcoin.

Bitcoin Supporters Push Back

Garlinghouse’s suggestion has faced criticism from some Bitcoin supporters. 
Pierre Rochard, Vice President of Riot Platforms, argues that Bitcoin’s decentralized nature makes it the only suitable cryptocurrency for the reserveHe also believes Ripple is lobbying to get XRP included.

Ryan Selkis, CEO of Messarishares this viewpoint, stating that Bitcoin’s unique features make it a better fit for the reserve than other cryptocurrencies.

As the U.S. government considers creating a national digital asset reserve, the question remains: will it include only Bitcoin, or will it be open to other cryptocurrencies, as Garlinghouse suggests? This decision could have a big impact on the future of the crypto industry.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps

Previous
Previous

Millionaires Live by These Rules To Build Wealth

Next
Next

Economist’s “News and Views” 1-28-2025