Arizona approves first state Bitcoin reserve bills

Key Takeaways

Arizona approves bills to create Bitcoin reserve and invest up to 10% of public assets.
The initiative aims to attract blockchain innovation and aligns with other states’ legislative efforts.

Arizona lawmakers approved two groundbreaking bills today that could establish the state as the first in the nation to create a Bitcoin reserve.

The House of Representatives passed Senate Bill 1025 and Senate Bill 1373, with both measures now awaiting Governor Katie Hobbs’ signature.

The legislation would allow Arizona to invest up to 10% of treasury and pension assets in digital assets, including Bitcoin, through SB 1025, while SB 1373 establishes a Digital Assets Strategic Reserve Fund.

The bills authorize the use of seized crypto assets and future appropriations to build the reserve, incorporating on-chain auditability and standard risk controls. Arizona’s move mirrors similar legislative efforts underway in Texas, Florida, and New Hampshire.

Bitcoin traded near $95K after the Arizona votes, marking a 25% increase from early-April lows amid renewed institutional demand.

Meanwhile, Governor Hobbs, who had previously threatened to veto all legislation until disability funding issues were resolved, lifted the blanket threat following a bipartisan deal on April 24.

Governor Hobbs has not yet signaled her stance on the Bitcoin reserve bills, but a decision in the coming days could either cement Arizona’s lead in Bitcoin adoption or force an override attempt.