Arizona Officially Passes Bill, Ready to Build the First Strategic Bitcoin Reserve in the US!

Updated

April 29, 2025

Gambar Arizona Officially Passes Bill, Ready to Build the First Strategic Bitcoin Reserve in the US!

Jakarta, Pintu News – Arizona has taken a major step in the cryptocurrency world by passing two bills that allow investment of up to 10% of public funds into Bitcoin and other digital assets.

This move makes Arizona the first state in the United States to formally have a strategic reserve of Bitcoin. Both bills are now awaiting Governor Katie Hobbs’ signature to be made official.

Innovative Legislation

ARIZONA JUST BECAME THE FIRST STATE IN THE NATION TO PASS STRATEGIC BITCOIN RESERVE LEGISLATION IN THE HOUSE AND SENATE.

ONTO THE GOVERNOR'S DESK! pic.twitter.com/GLTBdNTkpq
— Dennis Porter (@Dennis_Porter_) April 28, 2025

On April 28, the Arizona House of Representatives voted to pass Senate Bill 1025 (SB1025) and Senate Bill 1373 (SB1373). SB1025, which amends state statutes to allow for strategic Bitcoin reserves, was approved with 31 votes in favor and 25 against.

SB1373, which proposes a broader digital asset reserve, was approved with 37 votes in favor and 19 against. State Representative Jeff Weninger explained that this bill authorizes investing up to 10% of public funds in Bitcoin (BTC) and possibly other cryptocurrencies.

Arizona is now at the forefront of several other US states considering similar legislation. If passed, Arizona would be the first state to officially hold Bitcoin as a strategic asset, despite criticism from economists like Peter Schiff.

Governor’s Decision and Global Impact

Governor Katie Hobbs, who previously stated her position against signing the bill until the disability funding issue is resolved, is now under pressure to pass the Bitcoin backup bill.

The decision from Governor Hobbs will determine the legalization of using Bitcoin in managing and investing state funds in Arizona. Some observers explain that investing in Bitcoin offers protection from inflation and other macroeconomic factors.

Meanwhile, at the global level, Bitcoin holdings by governments are showing a decline. According to a CoinGecko report published in April 2025, governments’ collective Bitcoin reserves fell from 529,591 BTC in July 2024 to 463,741 BTC.

Market Trends and Reactions

With Bitcoin price trading close to $95,000 after the vote in Arizona, this marks a 25% increase from the low point in early April amid renewed institutional demand.

At the corporate level, MicroStrategy announced a new acquisition of 15,355 BTC worth $1.42 billion. The company’s total Bitcoin holdings now stand at 553,555 BTC, valued at approximately $52.76 billion.

El Salvador continues its Bitcoin accumulation policy under President Nayib Bukele, with the country now holding 6,135 BTC, with Bukele announcing the daily purchase of Bitcoin for national reserves.

Overall, Arizona’s move may be a turning point in the adoption of cryptocurrencies by state governments in the US.

With the potential of becoming the first state to have a Bitcoin reserve, Arizona sets a precedent that other states may follow, depending on Governor Hobbs’ final decision.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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