Arizona though is taking steps to become the first state to both recognize Bitcoin and its like as currency. The bill has faced opposition from those who cite the volatility of the cryptocurrency market as potentially disastrous to the tax base. Arizona State Senate Minority Leader said that all taxpayers would be at risk if Bitcoin was to experience a serious crash.
If the BTC will be approved, I think those fear, doubt will be gone then. If the Cryptocurrency is supported by the government definitely stability of the price will follow. The volatility of the price cannot be felt then.