On a historic day for bitcoiners, Arizona becomes the first jurisdiction in the U.S. to approve a strategic BTC reserve. The SB 1373 and SB 1025 bills were approved in their third and final reading, and are now ready to be sent to Governor Katie Hobbs.
The SB 1373 initiative, primarily sponsored by Senator Mark Finchem and supported by officials Shawnna Bolick, Brian Fernandez, Jake Hoffman, Venden Leach, and J.D. Mesnard, began its legislative process in February 2025. During that month, it was reviewed by the Senate Finance Committee. The bill, which proposes the creation of a strategic reserve of crypto assets in Arizona, successfully passed its second reading in early March, and recently received approval from the Plenary Committee of the House of Representatives. The goal of Finchem and other senators is to grant the state treasury the authority to invest up to 10% of the total reserve amount in each fiscal year, as well as the ability to lend digital assets in order to generate additional revenue.
The SB 1025 project, known as the 'Arizona Strategic Bitcoin Reserve Act', was initially accompanied by the Senate Finance Committee in late January, marking the beginning of its legislative process. Sponsored by Senator Wendy Rogers and Representative Jeff Weninger, SB 1025 seeks to authorize the investment of up to 10% of public funds in BTC, with the aim of diversifying state reserves and positioning Arizona as a leader in cryptocurrency adoption.
If Governor Katie Hobbs decides to veto the SB 1373 and SB 1025 proposals, they would return to the Arizona Senate for legislators to consider whether to attempt to override the veto. To override a veto in Arizona, a two-thirds majority is required in both chambers (20 votes in the Senate and 40 in the House of Representatives).
A few days ago, Hobbs had promised to veto any initiative not on her desk, unless a bipartisan measure was passed that guaranteed USD 122 million to help the disabled. Although an agreement was finally reached, it is worth noting that the governor's record includes 216 vetoes in the last two years.
