Friday, the governor of Arizona opposed his veto to bill 1025 of the Senate, ending the State’s attempt to become the first in the United States to establish a strategic bitcoin reserve. The bill, adopted by the Arizona Chamber on April 28 with a vote of 31-25, would have enabled the State to invest funds seized in Bitcoin worth $ 96,314 per BTC and to create a strategic digital asset reserve fund managed by state representatives.
A company bill, SB 1373, awaits a final vote and offers allowance up to 10% of the Arizona rain fund to digital assets. Governor Hobbs, a democrat, cited the risks of Bitcoin, calling him an “not tested investment” unsuitable for the robust retirement system of the Arizona State.
“Arizonans’ pension funds are not the place of virtual currency,” she said in a letter to the president of the Senate, Warren Petersen. His veto alignments with his previous promise to block invoices unrelated to a bipartite financing agreement for disabilities, resolved on April 24.
According to the reports, The initiative did not receive enough votes, which led to legislation to cancel its decision. The news has turned upheavals of crypto, because they thought that Bitcoin’s outfit could protect against the price increase and make Arizona a leader in new financial ideas.
Other states such as Oklahoma, Montana, South Dakota and Wyoming have also managed to adopt similar Bitcoin investment plans. However, North Carolina goes ahead with a law adopted on April 30, 2025, which allows the State to invest up to 5% of certain funds in cryptocurrencies. The Northern Carolina Senate is currently examining this law.
In March 2025, President Donald Trump signed an order to create a national Bitcoin strategic reserve and a stock of digital assets, showing support for Bitcoin and other digital currencies at the federal level. On April 29, US legislators had adopted the legislation and the bill was adopted by the House of Representatives of Arizona.
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