On January 27, 2025, the Arizona Senate Finance Committee approved bill SB1025, known as the Arizona Strategic Bitcoin Reserve Act, allowing investment of up to 10% of public funds in Bitcoin and other digital assets.
Innovative Bitcoin Bill
Co-sponsored by Wendy Rogers and Jeff Weninger, SB1025 grants the state the ability to invest public funds managed by the state treasury and public retirement systems in Bitcoin. It includes provisions for storing digital assets in secure segregated accounts within a future federal strategic Bitcoin reserve.
Arizona's Push to Become a Leader
If passed, Arizona would be the first U.S. state to officially allow public funds investments in Bitcoin, setting a precedent for others. Wendy Rogers previously attempted to make Bitcoin legal tender in 2022 but was unsuccessful. The bill must navigate several further approvals before becoming law.
Federal Support Role
One interesting aspect of SB1025 is the potential federal strategic Bitcoin reserve. This idea gained traction when Donald Trump proposed a national Bitcoin reserve. Current U.S. Treasury Secretary Scott Bessent, who opposes CBDC and supports Bitcoin, may favor such initiatives.
Bill SB1025 positions Arizona as a pioneer in integrating digital currencies into state finances, with growing support from other states and potential federal level changes.
