Looks like #Arizona won’t be adding Bitcoin to its reserves anytime soon.
Governor Katie Hobbs just vetoed Senate Bill 1025—a proposal that would’ve let the state invest in $BTC using seized funds. If it had gone through, Arizona would've been the first U.S. state to officially hold Bitcoin as part of its financial reserves. Pretty bold move, but not everyone was on board.
The bill had just barely passed in the House with a 31–25 vote before landing on Hobbs’ desk, where she shut it down fast.
In her statement, Hobbs explained her reasoning: “The #Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments. Arizonans' retirement funds are not the place for the state to try untested investments like virtual currency.”
Fair point—crypto still isn’t exactly mainstream when it comes to government treasuries. But this bill could’ve been a game-changer. If passed, it might’ve even moved faster than the U.S. Treasury in establishing a #ceypto reserve.
So for now, Arizona’s #bitcoin dreams are on hold. But with other states exploring similar moves, this definitely won’t be the last time we hear about public crypto reserves.
