Supporters of the proposal believe that establishing a BTC reserve will help Arizona diversify its assets, hedge against inflation, and position the state as a leader in digital financial innovation.
Author: cryptoslate
Written by: Blockchain Knight
On April 28, Arizona's legislature approved a measure with a largely bipartisan vote, making the state the first in the nation to legislatively establish a strategic BTC reserve.
The bill was introduced by Republican Senator Wendy Rogers, authorizing the state treasury to invest a portion of public funds in BTC.
According to details shared by Dennis Porter, CEO of the Satoshi Action Fund, there were no absences or abstentions during the two voting sessions. The bill passed in the House with 29 votes in favor and 25 against, and in the Senate with 31 votes in favor and 25 against, although 4 senators did not participate in the vote.
The bill is currently awaiting review by Governor Katie Hobbs. Hobbs has not indicated whether she will sign or veto the bill.
However, she recently pledged to veto all bills sent to her desk until the state legislature passes a new budget. While Hobbs has not made specific comments on Senate Bill 1025 (SB1025), she has maintained her broader veto stance, creating uncertainty around the bill's prospects.
Supporters of the proposal believe that establishing a BTC reserve will help Arizona diversify its assets, hedge against inflation, and position the state as a leader in digital financial innovation.
They point out that BTC has a fixed supply and decentralized characteristics, which provide advantages over traditional fiat reserve assets, especially in the context of concerns over national debt and currency devaluation.
Meanwhile, critics warn that BTC's price volatility could expose state funds to significant financial risks. Some have also expressed concerns about the lack of federal regulation of crypto assets and questioned whether public funds should be used to invest in speculative assets.
According to the bill's provisions, BTC investments will be classified as part of the digital currency holdings in the state investment portfolio and will be subject to the oversight and restrictions outlined in Arizona's existing public fund management regulations.
Arizona's move comes amid a broader discussion nationwide about the role of digital assets in public finance. While several state legislatures have debated crypto asset-related bills in recent years, Arizona is the first to explicitly authorize the establishment of a BTC reserve.
Now, Governor Hobbs will make the final decision on whether Arizona will officially become the first state in the U.S. to incorporate BTC into its financial strategy.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
