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🇺🇸 Arizona Set to Become First State to Approve Dual Bitcoin Reserve Fund Bills

Arizona is making headlines in the crypto world as it inches closer to becoming the first U.S. state to pass two Bitcoin reserve fund bills. The state’s House of Representatives has just approved HB2324, a groundbreaking bill that would allow the creation of a state-managed fund sourced from confiscated digital assets, including Bitcoin seized in criminal cases. All that’s left is a signature from Governor Katie Hobbs to make it official.

Earlier in May, Arizona had already passed its first Bitcoin Reserve Fund bill, enabling the state to hold unclaimed digital assets, such as unclaimed airdrops or staking rewards. However, Governor Hobbs previously vetoed two other bills (SB1025 and SB1373) that would have authorized the use of state budget funds to invest in BTC, citing concerns over market volatility.

Among the three U.S. states that have greenlit crypto reserve legislation—Texas, Arizona, and New Hampshire—Texas stands out as the only state actively accumulating Bitcoin with $10 million in state funds. Arizona and New Hampshire, while having passed legislation, are still laying the groundwork for their reserve strategies.

As states continue to explore integrating Bitcoin into their fiscal frameworks, Arizona could be on the verge of setting a powerful precedent in state-level crypto adoption.

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