Arizona Jumps on the Bitcoin Bandwagon, Following New Hampshire's Lead
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Arizona Enacts Law Establishing Bitcoin Reserve: Bill On Governor's Desk
🔹 Arizona becomes the second state in the U.S. to establish a strategic Bitcoin [BTC] reserve, after Governor Katie Hobbs signed House Bill 2749 into law on May 8, 2025. 🔸
📜 Unlike other proposals that aimed for broader investment in digital assets, this law takes a more cautious approach, funding the reserve through profits from unclaimed property and gains from airdrops and staking. 📜
💰 Mimicking New Hampshire's lead, Arizona's move demonstrates a growing interest in integrating Bitcoin into state financial strategies. David Blogs’ data indicates that nation-states account for 2.5% of the total BTC supply, holding 529,705 coins (worth $52.8B). 💰
💬 The approval of HB 2749 has received a thumbs-up from industry experts, like Matthew Sigel, VanEck's head of digital assets research, who declared it a 'great achievement.' Binance founder Changpeng Zhao (CZ) believes the move signals a warning to late BTC buyers: "You can buy while governments are buying or after they have bought. The 'before' option is disappearing." 💬
📝 Interestingly, HB 2324, which aimed to build a reserve from forfeited assets, was not passed in the final reading. SB 1373, which seeks direct investment into BTC using the state's resources, awaits Governor Hobbs' decision. 📝
🌐 Oregon's SB 167 doesn't directly deal with Bitcoin but provides the groundwork for adoption, positioning the state as a potential future crypto contender. Texas, too, has shown interest in cryptocurrency legislation and mining infrastructure but has not yet announced a state-managed Bitcoin reserve like Arizona or New Hampshire. 🌐
️⃣ Crypto Adoption Race: As of May 2025, exchange-traded funds (ETFs) and public companies rank first and second for Bitcoin adoption. Want to guess where states fall in this list?
💡 Quick Facts:- Arizona's BTC reserve funding: Unclaimed assets and staking rewards- New Hampshire's BTC reserve percentage of public funds: Up to 5%- Texas' current status on Bitcoin reserve: No strategic Bitcoin reserve established yet
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[1] Bitcoin Laws. (n.d.). Arizona's Strategic Bitcoin Reserve Bill HB 2749. Retrieved May 20, 2025, from https://bitcoinalaws.com/en/az
[2] Bitcoin Laws. (n.d.). Texas' Bitcoin Reserves Progress. Retrieved May 20, 2025, from https://bitcoinalaws.com/en/tx
[3] Arizona Capitol Times. (2023, Mar 30). Hobbs vetoes Arizona digital asset bill [Online Article]. Retrieved May 20, 2025, from https://azcapitoltimes.com/news/2023/03/30/hobbs-vetoes-arizona-digital-asset-bill/
[4] Governor Katie Hobbs. (n.d.). Bills Signed and Vetoed - 2025 [Official Website]. Retrieved May 20, 2025, from https://azgovernor.gov/vetoes/
[5] Bitcoin Laws. (n.d.). State Bitcoin Reserves Race. Retrieved May 20, 2025, from https://bitcoinalaws.com/en/states/crypto-reserves
- Arizona's strategic Bitcoin [BTC] reserve, a move mirroring New Hampshire's decision, is funded through profits from unclaimed property and gains from airdrops and staking.
- In the crypto scene, Arizona joins a handful of states that have established Bitcoin reserves, with 2.5% of the total BTC supply reportedly held by nation-states.
- The passage of HB 2749 by Governor Katie Hobbs has been positively received by industry experts like Matthew Sigel and Changpeng Zhao (CZ) of Binance.
- Unlike HB 2749, HB 2324, which aimed to create a reserve from forfeited assets, did not pass in the final reading, while SB 1373, targeting direct investment into BTC with state resources, awaits Governor Hobbs' decision.
- Oregon's SB 167 doesn't directly address Bitcoin but lays the foundation for potential future adoption, making it a possible contender in the crypto adoption race.
- States, as of May 2025, do not feature in the top spots for Bitcoin adoption, with exchange-traded funds (ETFs) and public companies leading the way.
