Arizona is on the brink of being the first state with Bitcoin reserves as Governor threatens veto. Learn about the bills and the budget issue.
Arizona is close to becoming the first state in the U.S. with Bitcoin and other digital asset reserves after the approval of two bills in the state Senate. Senate Bill 1373 establishes a Strategic Digital Asset Reserve Fund to be managed by the state treasury, containing seized digital assets and allocated budget by lawmakers. The state treasurer can annually invest up to 10% of the fund in digital assets including Bitcoin. Senate Bill 1025 allows the state treasury and retirement system to specifically invest 10% of available funds in Bitcoin. However, Governor Katie Hobbs has threatened to veto all bills unless lawmakers address a $122 million budget shortfall.
