Replying to Avatar QW

I keep reading that my state, Arizona enacted a Strategic Bitcoin Reserve.

But when I read what was actually passed I’m like hmmmm.

1. Bitcoin presumed abandoned if the holder doesn’t respond to communications within 3 years?

2. State seizes unclaimed Bitcoin after 3 Years?

3. Reserve will be formed from Staking and Airdrops revenue from seized Bitcoin?

4. Reserve Fund used for future appropriations?

Most of this doesn’t even make sense.

“Holders must deliver the abandoned Bitcoin to the State? 🤣

Should this be celebrated? Or is it a Loss normalizing state seizure of CrYpTo wrapped in a glorified headline?

Furthermore, the other Bill which would have allowed Bitcoin Investment within State Pensions was vetoed.
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R 8mo ago

More like eewww for me. As far as bitcoin goes though it’s really a play on words. Bitcoin is always owned by the holder of the keys. What they really mean is if your legal claim on bitcoin owned by a custodian is abandoned, it goes to the state eventually. Personal storage, not so much.

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