Arizona Goes Full Bull: State Lawmakers Greenlight Bitcoin Reserve Bill—Now It’s Hobbs’ Move
Arizona just placed a high-stakes bet on Bitcoin. The state legislature passed the Strategic Bitcoin Reserve Act, a first-of-its-kind move to add BTC to government coffers—pending Governor Katie Hobbs’ signature.
Crypto meets Capitol Hill
The bill mandates Arizona’s treasury to allocate 1-3% of its $6.2B rainy day fund into Bitcoin. Proponents call it a hedge against dollar inflation; skeptics see it as political theater with taxpayer money.
Wall Street rolls its eyes
Goldman Sachs analysts reportedly laughed during the vote—then immediately downgraded Arizona’s bonds. Because nothing says ’prudent fiscal policy’ like buying volatile assets at all-time highs.
Governor Hobbs has 10 days to decide whether Arizona becomes the first US state to officially HODL.
What Does the Arizona Bill Say
The SB1025 bill focuses exclusively on Bitcoin as an investment asset. The legislation defines how Arizona manages its public monies from the state treasury and pensions.
Further, the state of Arizona “may store” its public fund’s crypto holdings in a “secure, segregated account within the Strategic Bitcoin Reserve,” if the U.S. Secretary of the Treasury establishes a Bitcoin reserve.
The bill has been co-sponsored by Republicans Sen. Wendy Rogers and Rep. Jeff Weninger. If signed into law, Arizona would become the first state to fully integrate crypto into its finances.
US States Weigh to Establish Strategic Bitcoin Reserve
Other US states, such as Utah, passed Bitcoin-related legislation last month, but removed the Bitcoin reserve provision during final approval.
Meanwhile, Texas and New Hampshire have seen similar legislation, with the Texas Senate approving its Bitcoin reserve bill on March 6.
Recently, Kentucky Governor Andy Beshear officially signed House Bill 701, known as the “Bitcoin Rights” bill, into law. Kentucky has become one of the latest states to enact legislation protecting digital asset users and operations.
Besides, Missouri is also weighing whether to establish a strategic bitcoin reserve.