Bitcoin Surges Past $100K; Arizona Creates Bitcoin Reserve
Key Takeaways
- Bitcoin challenged $105,000 on May 10, up 6% weekly and almost 10% monthly.
- Arizona established a state-run Bitcoin reserve; bill proposes 10% fund allocation.
- New Hampshire is the first state to legally enable a Strategic Bitcoin Reserve.
- BITX ETF rose 19% this month, but only 1.5% this year.
- Oregon bill (HB 2071) seeks to protect digital asset usage for payments.
Top Stories
Bitcoin challenges $105K, up 6% weekly, 10% monthly.
On May 10, 2025, Bitcoin challenged the $105,000 mark amid positive macro headlines. Ric Edelman noted new crypto ETFs give investors more access, with Bitcoin crossing $100,000 on Thursday for the first time since February, gaining 6% this week and almost 10% this month.
Arizona establishes Bitcoin reserve, considers fund allocation.
Reported on May 10, 2025, Arizona faced criticism after Governor Katie Hobbs vetoed Bill SB 1025 but later signed House Bill 2749 into law, establishing a state-run “Bitcoin and Digital Asset Reserve.” Additionally, Senate Bill 1373 is pending, which could allow the state treasurer to allocate up to 10% of the Budget Stabilization Fund into Bitcoin.
New Hampshire enables Strategic Bitcoin Reserve creation.
New Hampshire became the first state in the U.S. to legally enable the creation of a Strategic Bitcoin Reserve (SBR) thanks to House Bill 302.
BITX ETF up 19% monthly, Bitcoin up 10%.
On May 10, 2025, Bob Pisani referenced the 2x Bitcoin Strategy ETF (BITX), noting it's up 19% this month but only 1.5% this year, while Bitcoin is up roughly 10%.
Oregon bill seeks to protect digital asset usage.
House Bill 2071, introduced in Oregon, seeks to protect the rights of individuals and businesses to use digital assets for lawful payments and peer-to-peer transactions, as reported on May 10, 2025.
Adoption News
'Rich Dad Poor Dad' author encourages Bitcoin adoption.
On May 10, 2025, it was reported that the author of ’Rich Dad Poor Dad’ encourages people to fight back and get Bitcoin.
Market Pulse
Concerns raised about leverage, inverse Bitcoin ETFs.
On May 10, 2025, Ric Edelman expressed concerns regarding leverage and inverse Bitcoin ETFs, warning that they may not be suitable for retail investors.
Coinbase's Bitcoin purchases not a treasury strategy.
On May 9, 2025, CoinDesk published an analysis clarifying that Coinbase's Bitcoin purchases are not part of a treasury strategy.