Arizona has become the first U.S. state to enact legislation to create a strategic reserve of Bitcoin, after the House of Representatives approved two bills: SB1025 and SB1373 on April 28, 2025.
Details of the Bills:
• SB1025: Known as the “Strategic Bitcoin Reserve Act,” it allows the state treasurer to invest up to 10% of state assets, including pension funds, in Bitcoin and other digital currencies.
• SB1373: Establishes a “Strategic Reserve Fund for Digital Assets,” which will manage seized and purchased digital assets, ensuring transparency through transaction tracking on the blockchain and implementing strict risk management controls.
The total value of public assets managed by Arizona is approximately $31.5 billion, meaning up to $3.14 billion could be invested in digital currencies under the new legislation.
Current Status:
Despite the passage of the legislation by both chambers, the bills await the signature of Democratic Governor Katie Hobbs. Previously, Katie threatened to use her veto power against all legislation until an agreement was reached on funding for disability programs. However, after reaching a funding agreement on April 24, Katie has not yet announced her position on the two Bitcoin-related bills.
Potential Impact:
If the bills are signed, Arizona will be the first U.S. state to hold Bitcoin as part of its public financial reserves, which may encourage other states to take similar steps. It is noted that states like Texas and New Hampshire are currently considering similar legislation.
Additional Notes:
• The SB1025 proposal was introduced by Republican Senator Wendy Rogers, known for her strong support of digital currencies.
• The new legislation includes mechanisms to ensure transparency and risk management, such as tracking transactions on the blockchain and implementing strict controls.
• This step is part of a broader trend in the United States towards adopting digital assets in public financial policies.
For more details, you can follow the official updates from the Arizona state government or visit news sites specializing in digital currencies.
