Senator and Bitcoin supporter Wendy Rogers, who co-sponsored the bill, reacted strongly: “Bitcoin doesn’t need Arizona. Arizona needs Bitcoin.” The proposal aimed to use seized funds to invest in Bitcoin and create a state-managed crypto reserve.

Crypto Advocates Say Politicians Don’t Understand The Future

Casa co-founder Jameson Lopp responded by saying, “This will age poorly.” Bitcoin advocate Anthony Pompliano commented, “Imagine the ignorance of a politician thinking they can make investment decisions.”

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Attorney Andrew Gordon added, “We need more elected officials who understand that Bitcoin and crypto are the future.” Rogers emphasized that Arizona’s retirement fund already holds MicroStrategy (MSTR) shares, which she described as “basically a leveraged Bitcoin ETF.” The stock rose 32% in April, marking its best performance since November 2024.

Rogers confirmed she would reintroduce the bill in the next legislative session, saying, “Arizona’s Strategic Bitcoin Reserve bill will be back. HODL.”

More States Struggle With Crypto Legislation

Had it passed, Arizona would have become the first U.S. state to create a Bitcoin Strategic Reserve. Instead, it joins other states like Oklahoma, Montana, South Dakota, and Wyoming, where similar efforts have stalled or failed.

Prominent crypto critic Peter Schiff supported Hobbs, stating, “Governments shouldn’t use public funds to speculate on cryptocurrencies.”

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The Strategic Bitcoin Reserve Act (SB1025), co-sponsored by Senator Wendy Rogers and Representative Jeff Weninger, passed the Arizona State Senate Finance Committee with a 5-to-2 vote on January 27.

The bill now proceeds to the Senate Rules Committee for further debate and amendments. If approved by the Senate, the bill will advance to the House of Representatives.

This legislation proposes the creation of a strategic Bitcoin reserve managed by the U.S. Treasury for safeguarding government Bitcoin holdings. It also allows public funds to store digital assets in a “secure, segregated account within the strategic Bitcoin reserve.”

The bill permits government entities or public funds to allocate up to 10% of their capital to Bitcoin (BTC) and other digital assets. It also opens the door for pension funds to invest in Bitcoin, potentially boosting public interest in cryptocurrencies.

Young Generations Show Preference for Crypto Retirement Plans

A Cointelegraph report dated January 16 revealed that 20% of Gen Z and Alpha generations are open to receiving their pensions in cryptocurrency, with 78% expressing more trust in “alternative retirement savings options” over traditional pension systems.

Arizona’s decision to include Bitcoin in its financial strategy could inspire other states to follow suit. Blockchain expert Anndy Lian stated:

“Imagine if your state decided to allocate a portion of your tax dollars to Bitcoin; this might encourage places like Texas or Pennsylvania, where similar ideas have already been discussed, to act faster.”

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However, Lian warned that a Bitcoin reserve would require safeguards due to cryptocurrency’s volatility, highlighting financial risks taxpayers could face.

Could the Bitcoin Reserve Act Skyrocket BTC Price?

Supported by Wyoming Republican Senator Cynthia Lummis, the Bitcoin Act is one of the most anticipated crypto bills in history, generating excitement among investors.

Nationwide approval of a U.S. Bitcoin reserve could potentially push Bitcoin prices beyond the seven-figure mark. Blockstream CEO Adam Back suggested that this potential has yet to be fully reflected in market valuations.

There are currently at least 13 Bitcoin reserve-related bills in various stages across states like Massachusetts, Pennsylvania, Kansas, New Hampshire, Wyoming, Ohio, Utah, and North Dakota.

Trump’s Pro-Crypto Policies Driving Momentum

Bitcoin reserve proposals are gaining traction across the U.S., fueled by President Donald Trump’s pro-crypto policies and recent executive orders.

Success in passing the bill could attract institutional Bitcoin adopters such as pension and sovereign wealth funds, further legitimizing Bitcoin as an asset class.

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