EddieJayonCrypto
29 Apr 25
Arizona’s State Legislature has passed two Bitcoin reserve bills, SB1025 and SB1373, which now await Governor Katie Hobbs’ signature to become law. These bills would allow Arizona to allocate up to 10% of its public funds to Bitcoin or other digital assets, a move that follows similar legislation in...
Arizona’s State Legislature has passed two significant Bitcoin reserve bills, SB1025 and SB1373, now awaiting Governor Katie Hobbs’ approval to become law.SB1025 permits Arizona to allocate up to 10% of public funds to Bitcoin or other digital assets, mirroring a similar bill in South Carolina.Fiscal conservatives opposed larger purchase mandates, resulting in spending caps in most state-level reserve proposals.
Governor Hobbs recently ended a veto standoff related to funding disputes, greatly increasing the likelihood of these bills being signed into law.Arizona stands as the first U.S. state to successfully pass strategic Bitcoin reserve legislation in both the House and Senate.Globally, government-held Bitcoin reserves are on the decline, but Arizona’s prospective reserve could stimulate Bitcoin demand and foster market optimism.
Following Arizona’s lead, New Hampshire and Texas are also considering similar Bitcoin reserve bills and are awaiting Senate votes.The passage of these bills represents a meaningful victory for the cryptocurrency industry, especially amid existing microeconomic challenges.While spending limits may temper some enthusiasm, any state-level Bitcoin acquisition marks a positive development for the broader market.