Arizona Passes Bill to Establish Bitcoin Reserve
Lawmakers in the state of Arizona have approved a bill that allows the state treasury and pension system to invest up to 10% of available funds in digital assets, including Bitcoin, according to reports from Bloomberg and other outlets. The bill now heads to Governor Katie Hobbs for signature — the final step before it becomes law.
The bill, titled the Arizona Strategic Bitcoin Reserve Act, would make Arizona the first U.S. state to mandate the allocation of a portion of public funds into Bitcoin, if signed into law.
The initiative was authored by Republican Senator Wendy Rogers and Representative Jeff Weninger. The bill's explanatory note emphasizes that the legislation reflects the “growing recognition of digital assets in public financial management.”
Similar proposals are being considered in Iowa, Missouri, and Texas. At the federal level, President Donald Trump signed an executive order in March to establish a strategic reserve of confiscated bitcoins. However, the current version of the order does not authorize new purchases of cryptocurrency.
