Bitcoin faithfuls criticize Arizona governor after Bitcoin bill veto
Bitcoin faithfuls have criticized the decision of Arizona governor Katie Hobbs to veto a bill that would have allowed the state to hold Bitcoin in its reserves.
Bitcoin supporters say it is ignorance, pointing out the state is exposed to crypto through its investment in Strategy.
Gold bug Peter Schiff has sided with Governor Hobbs’ decision to veto the bill, noting that it is a bad decision to invest public assets in speculative funds.
Bitcoin faithfuls have heavily criticized Arizona Governor Katie Hobbs after she vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves. The criticism has since gone wide, with United States government officials making their input.
The whole issue comes after Hobbs ended the state’s plan to invest in Bitcoin with a veto, as the governor cited concerns over using public funds for untested assets. The decision slammed the brakes on the dreams of Arizona being the first state in the United States to adopt a policy to hold digital assets in its reserves.
“Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs wrote in a statement directed at Warren Petersen, the President of the Arizona Senate.
The bill had previously passed a final vote in the state House after 31 members of the Arizona House voted in favor of the bill, with 25 opposing it.
Bitcoin supporters blast Arizona governor’s ignorance
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