Arizona passes bill to establish a strategic Bitcoin reserve

Arizona moved a step closer to holding Bitcoin in its treasury on Monday after the House of Representatives passed two separate bills that would let the state adopt a BTC reserve. 

In a third House reading on April 28, Senate Bill 1025 (Arizona’s Bitcoin reserve bill) passed with a 31-25 vote. Another bill, SB1373, passed with a 37-19 vote. This bill aims to establish a state-level reserve consisting of various digital assets.

“This bill basically takes the approach that probably 15 other states are considering … that allows the treasurer to invest up to 10% into, probably mainly Bitcoin but other things as well,”

said Republican Representative Jeff Weninger. 

“I think this probably would start as a ‘may’ for the foreseeable future,” he added, indicating that a BTC reserve is quite likely to become a reality when demand for Bitcoin holdings grows.

????NEW: Arizona becomes the first U.S. state to pass a $BTC reserve bill that allows for up to 10% of public funds to be invested in virtual currencies like Bitcoin.

The bill will still need to pass Democratic Governor Katie Hobbs’ desk in order to be signed into law. https://t.co/8lAJ1V9pop

— Eleanor Terrett (@EleanorTerrett) April 28, 2025

However, the bill still needs to get signed by Governor Katie Hobbs. Once it passes her desk, Arizona would become the first U.S. state to write a Bitcoin reserve into law, moving ahead of a handful of states that have debated similar ideas lately. 

New Hampshire’s Bitcoin reserve bill is expected to follow suit

Last week, New Hampshire’s House Bill 302 advanced to a full Senate vote after it passed the second Senate committee in a 4-1 vote. 

The legislation, introduced in January and passed by the New Hampshire House in a 192-179 vote earlier this month, would let the state place up to 10% of general funds in cryptocurrency and precious metals.

The bill sets a high bar for eligibility: only tokens with a market value above $500 billion qualify, a threshold only Bitcoin meets today.

However, the bill has received mixed remarks. Democratic Representative Terry Spahr argued that the bill is not needed, and it could weaken the future security of the state’s digital assets. He noted that the treasurer already has authority over investments under existing law. 

Supporters countered that exposure to Bitcoin could improve returns. “The investments could net the state a large amount of money,” Republican Representative Jordan Ulery said.

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