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

New Hampshire Gov. Kelly Ayotte has signed a strategic Bitcoin reserve bill into law, becoming the first U.S. state to do so, allowing the state to allocate some public funds for Bitcoin investing.

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.