Arizona Governor’s Veto Stalls Bitcoin Treasury Ambitions
Arizona’s plan to allocate a portion of public funds into Bitcoin has been halted after Governor Katie Hobbs vetoed Senate Bill 1025. The bill would have allowed the state to invest up to 10% of its treasury into cryptocurrencies, but Hobbs cited the need to protect the state’s robust retirement system from speculative risks as the reason for her decision. This move underscores the ongoing debate about the role of cryptocurrencies in public finance and highlights the cautious approach some policymakers are taking towards digital asset adoption.
Arizona Governor Vetoes Bitcoin Treasury Bill, Halting Crypto Reserve Plans
Arizona’s ambition to establish a Bitcoin treasury collapsed after Governor Katie Hobbs vetoed Senate Bill 1025, which would have permitted the state to allocate up to 10% of public funds into cryptocurrencies. Hobbs defended the decision by emphasizing Arizona’s robust retirement system, framing the veto as protection against speculative risks. "We maintain fiscal strength by avoiding reckless bets," she stated, aligning with opposition from retirement groups wary of pension exposure to volatile assets.
The veto leaves crypto advocates empty-handed, with no near-term path for legislative revival. Senator Wendy Rogers, a co-sponsor, had championed the proposal as a forward-looking strategy. Arizona’s withdrawal marks a setback for institutional crypto adoption, contrasting with states like Wyoming that continue advancing blockchain-friendly policies.
MicroStrategy’s Bitcoin Accumulation Continues Unabated Under Michael Saylor’s Leadership
MicroStrategy has reaffirmed its position as the most aggressive corporate buyer of Bitcoin, with executive chairman Michael Saylor signaling another major purchase following the company’s Q1 earnings call. The business intelligence firm added 15,355 BTC worth $1.4 billion on April 28 alone, bringing its total holdings to 553,555 BTC valued at over $52 billion.
Despite reporting a 3.6% year-over-year decline in Q1 revenue to $111 million, the company remains committed to its Bitcoin acquisition strategy. MicroStrategy has purchased more than 61,000 BTC year-to-date in 2025, maintaining a weekly buying streak that shows no signs of slowing.
Bitcoin Traders Flock to $300K Call Options as High-Stakes Bet on Mid-Year Rally
Crypto traders are placing audacious bets on Bitcoin’s price trajectory through derivatives markets, with Deribit’s $300,000 strike call option for June expiry emerging as the market’s most intriguing lottery ticket. Over 5,000 contracts represent a $484 million notional gamble that BTC will triple in value by late June.
The June $300K call now ranks as the second-most popular option in Deribit’s June expiry series, surpassed only by more conservative $110K calls. Such ultra-bullish positioning reflects growing institutional appetite for asymmetric payoff structures in crypto markets.
Deribit continues to dominate crypto options trading, commanding 75% of global volume. The exchange’s product suite has become the preferred venue for institutional traders seeking Leveraged exposure to Bitcoin’s volatility.
Bitcoin Price: $100K On The Horizon, Bullish Sentiment Persists
Bitcoin’s rally continues as it approaches the psychologically significant $100,000 mark, with bullish sentiment dominating the market. The cryptocurrency has surged 30% from its April lows, pushing holder profitability higher and testing key resistance levels.
Technical indicators show BTC entering overbought territory on the RSI, suggesting potential short-term profit-taking. market watchers view the $100,000 level as critical—both as a volatility zone and a potential catalyst for May’s price action.
Arizona Governor Vetoes Bitcoin Reserve Bill, Crypto Policy in Flux
Arizona Governor Katie Hobbs has vetoed Senate Bill 1025, effectively blocking a proposal that would have permitted state treasurers to allocate up to 10% of public funds into Bitcoin. The legislation, dubbed the "Arizona Strategic Bitcoin Reserve Act," sought to position the state as a pioneer in institutional crypto adoption.
The veto leaves companion bill SB1373—which proposes a state-level cryptocurrency investment fund—in legislative limbo. Arizona now joins five other U.S. states that have rejected similar Bitcoin reserve proposals this year, even as nineteen others actively consider such measures.
Hobbs justified the decision by emphasizing the strength of Arizona’s existing retirement system, suggesting unnecessary risk in crypto exposure. The move deals a temporary setback to institutional adoption efforts, though market participants note the growing trend of state-level crypto policy debates nationwide.
