Arizona Pushes Forward with Strategic Bitcoin Reserve Proposal
Arizona is taking a bold step toward embracing digital assets. On January 27, the state Senate Financial Committee approved a bill to establish a strategic Bitcoin reserve, making Arizona the first state to see such legislation advance through a Senate committee.
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The bill, titled the “Arizona Strategic Bitcoin Reserve Act” (SB1025), received support from five committee members, while two voted against it.
Introduced by Senators Wendy Rogers and Jeff Weninger, the legislation aims to allow the state to allocate up to 10% of its public funds into Bitcoin and other digital assets.
A Bold Move Toward Digital Asset Investments
If enacted, the bill would make Arizona the first state to officially allocate a portion of public funds—including state treasury and pension funds—to cryptocurrency investments.
The legislation also outlines safeguards for securely storing these assets in a dedicated account, with the possibility of integration into a federal Bitcoin strategic reserve if one is established by the U.S. Department of Treasury.
CEO and co-founder of the Satoshi Action Fund Dennis Porter emphasized the pioneering nature of this initiative.
“I can confirm that Arizona has become the 1st state in the nation to pass out of committee a bill to create a “Strategic Bitcoin Reserve,” he wrote on X.
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Federal Context and Broader Trends
Arizona’s initiative reflects a growing interest in creating Bitcoin reserves across multiple U.S. states, underscoring a broader trend toward diversifying public funds through digital asset investments.
“I can confirm that at least 15 states will introduce ‘Strategic Bitcoin Reserve’ legislation. Maybe even 16. As a reminder, only 3 months ago this number was zero,” said Dennis Porter.
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At the federal level, the appointment of Scott Bessent as U.S. Treasury Secretary adds further weight to these developments. A vocal supporter of Bitcoin and a critic of central bank digital currencies (CBDCs), Bessent is expected to play a key role in shaping federal cryptocurrency policy.
Next Steps for the Bitcoin Reserve Bill
The Bitcoin reserve bill will now advance to the Senate Rules Committee, where the parameters for debate and potential amendments will be determined. If approved by the full Senate, the legislation will move to the House of Representatives for further review.
Source: Crypto Briefing
This bill places Arizona at the forefront of states working to integrate cryptocurrencies into their public investment strategies. If passed into law, it could set a significant precedent for other states considering similar initiatives and solidify the role of digital assets in public finance management.
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