Arizona has become the second U.S. state to sign legislation for a strategic Bitcoin reserve, leveraging unclaimed assets.
Details of the Approved Bill
Arizona has followed New Hampshire as the second U.S. state to establish a Bitcoin reserve by signing bill HB 2749, which does not rely on retirement funds. Instead, it plans to use unclaimed assets and staking rewards to fund the reserve. According to Bitcoin Laws, 'HB 2749 has been signed into law, technically creating AZ’s first crypto reserve. It doesn’t allow investment but moves unclaimed assets, airdrops, and staking rewards into a reserve.' The remaining bills related to the reserve did not pass.
Reactions to the Law
Matthew Sigel, head of digital assets research at VanEck, praised Arizona's move as a 'great achievement.' Changpeng Zhao (CZ), founder of Binance, suggested that Arizona's update should serve as a warning to late BTC buyers, stating, 'You can buy while governments are buying or after they have bought. The 'before' option is disappearing.'
Future of Bitcoin Reserves in the U.S.
In Oregon, a bill (SB 167) has passed that does not directly address Bitcoin but lays the groundwork for its adoption. With this move, Arizona becomes the second state to enact a strategic BTC reserve into law, while Texas could soon follow pending a House vote and governor's action.
As of May 2025, nation-states held 2.5% of the total BTC supply, equivalent to 529,705 coins worth $52.8 billion, according to Bitbo data. The trend of increasing adoption of Bitcoin continues among state institutions.
