The Arizona Legislature has approved Bill HB2324, which aims to create a Bitcoin reserve using forfeited assets. It now awaits Governor Katie Hobbs' approval.
Establishment of Bitcoin Reserve in Arizona
Bill HB2324, passed by Arizona's legislature, aims to create a 'Bitcoin Reserve' using criminally forfeited assets. Governor Katie Hobbs has yet to sign the bill. Representative Wadsack leads this initiative, but he has remained silent regarding its expected impact.
Impact of the Bill on the Crypto Industry
This measure could define Arizona's approach to cryptocurrency alongside existing asset management strategies. If the bill passes, Bitcoin will become integral to the state's asset management, although no specifics or percentages are mentioned in the text.
Cryptocurrency Amid Market Volatility
As of June 25, 2025, Bitcoin (BTC) is valued at $107,756.58 with a market cap of $2.14 trillion. Despite a recent rally of 24.39% over the past 90 days, the 24-hour trading volume has decreased by 31.22%, indicating fluctuating investor interest. Coincu researchers emphasize that this initiative is a significant development in state-level cryptocurrency management.
Arizona's initiative to create a Bitcoin reserve opens new horizons for cryptocurrency policy in the U.S. However, the lack of commentary from key figures in the sector leaves many questions about the future of the legislation.
