Governors and legislatures in eight U.S. states, including Florida and Arizona, have rejected or withdrawn Bitcoin reserve bills in 2025, citing investment risks.
This rejection underscores the hesitancy among states to integrate Bitcoin into public fund allocations due to volatility concerns.
Eight States Reject Bitcoin Reserve Legislation in 2025
In 2025, several U.S. states introduced Bitcoin reserve bills, driven by a push for strategic reserves. However, legislation in states like Florida and Arizona faced opposition from governors and legislatures concerned about financial risks. Arizona’s Gov. Katie Hobbs vetoed a bill intended for state retirement fund integration with Bitcoin, emphasizing the risks posed by virtual currencies. Legislatures in Wyoming, Pennsylvania, and other states withdrew or stalled similar proposals.
No State Fund Allocation to Bitcoin After Vetoes
With these bills withdrawn or vetoed, no public funds were allocated to Bitcoin. The absence of institutional endorsement has kept financial markets stable, with no notable fluctuations directly linked to these decisions. Analysts suggest that these legislative actions reflect ongoing caution. Historical concerns about Bitcoin’s volatility and the prudence of incorporating it into state reserves continue to shape policymaker decisions across the United States.
Historical Rejections and Expert Insights on Bitcoin
Previous attempts, as seen in 2021, also failed due to similar volatility concerns. Governors continue to prioritize fiscal stability over experimental investments, leading to consistent rejection of integrating Bitcoin into public portfolios. Experts from Kanalcoin indicate that while the integration of cryptocurrencies into state funds remains an interest, regulatory hesitancy, based on past and current trends, significantly slows progress. Gov. Katie Hobbs stated, “Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency.” The focus remains on traditional financial stability.
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