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Bitcoin Reservation Bill Officially Enacted in Arizona, Following New Hampshire's Lead
Arizona has taken a leap, making it the second U.S. state to jump on the Bitcoin [BTC] bandwagon by creating a strategic BTC reserve, just like New Hampshire before it. This move comes as a U-turn, following a rejection of a related bill earlier on.
Interestingly, four BTC reserve bills were introduced in Arizona, as per Bitcoin Laws data aggregator. Unfortunately, the initial bill that aimed to invest retirement funds into BTC wasn't so lucky. It faced a veto by Governor Katie Hobbs.
But let's get down to the approved bill, HB 2749. Unlike the rejected one, HB 2749 doesn't rely on retirement funds. Instead, it utilizes 'unclaimed assets' and staking rewards to establish the new reserve. Bitcoin Laws explains,
However, another bill, focusing on building a reserve from forfeited assets, HB 2324, failed to pass in the final reading. The much-anticipated bill, SB 1373, which seeks direct investment into BTC using the state's resources, is still awaiting Governor Hobbs' decision.
Advocates for this move are thrilled. According to VanEck's head of digital assets research, Matthew Sigel, Arizona's greenlight is a 'great achievement.' Even Binance founder Changpeng Zhao (CZ) commented,
For Oregon, the passed bill (SB 167) doesn't directly interfere with BTC but prepares the ground for future adoption.
As the crypto world waits, Texas might soon join this league of BTC-focused states, waiting for the House vote and the governor's action.
Source: Bitcoin Laws (Excerpt on state BTC reserve race)
With nations gobbling up Bitcoin, it seems the future is bright for the digital asset. As of May 2025, nation-states accounted for 2.5% of the total BTC supply and held 529,705 coins (worth $52.8B), according to Bitbo data.
So, who's buying and stashing? Exchange-traded funds (ETFs) and public companies lead the race for BTC adoption.
What's next? Well, only time will tell. But one thing's for sure—the crypto world is spinning in a digital dance!
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- Note: This article has been rephrased for improved readability and clarity, incorporating relevant insights from enrichment data while maintaining a focus on the base article. Some descriptive details have been omitted for brevity.
- Arizona has now joined a select group of states, utilizing 'unclaimed assets' and staking rewards to establish a Bitcoin [BTC] reserve, as prescribed by HB 2749.
- As nations continue to amass Bitcoin, institutions like exchange-traded funds [ETFs] and public companies are leading the charge in Bitcoin adoption.
- Discussing the future of Bitcoin, VanEck's head of digital assets research, Matthew Sigel, called Arizona's move a 'great achievement,' while Binance founder Changpeng Zhao [CZ] suggested that "the 'before' option [of buying Bitcoin] is disappearing."
- With the potential for both bull and bear markets looming, we invite readers to participate in our survey and have a chance to win $500 USDT, while voicing their opinions on the forthcoming Bitcoin market trends.
