Arizona Makes History: Becoming Second State to Create a Bitcoin Reserve

Governor Katie Hobbs of Arizona has signed House Bill 2749, setting the state as the second in the US to implement a framework for a Bitcoin and digital asset reserve fund. The bill establishes a budget-neutral approach for managing digital assets received by the state. This follows Governor Hobbs’ previous veto of Senate Bill 1025, which would have allowed investment up to 10% of treasury and pension funds in cryptocurrencies. She cited concerns about untested crypto investments at the time, prompting criticism from industry supporters.