News View Non-AMP

Arizona Approves Bitcoin Reserves, But Wyoming and Montana Are Saying No – Here’s Why

Published by
Qadir AK

Arizona is pushing ahead with cryptocurrency investment as two Bitcoin reserve bills have passed the Senate, setting the stage for final approval in the state’s House of Representatives. While states like Wyoming and Montana are rejecting similar measures over concerns about crypto’s volatility, Arizona is doubling down on digital assets.

If these bills pass in the state’s House of Representatives, Arizona could become one of the first states to officially hold Bitcoin in its reserves.

Senate Approves Bitcoin Reserve Bills

On Feb. 27, the Arizona Senate approved the Strategic Digital Assets Reserve bill (SB 1373) in a 17-12 vote, sending it to the House for final approval. Sponsored by Republican Senator Mark Finchem, the bill aims to create a Digital Assets Strategic Reserve Fund, which will be managed by the state treasurer. The fund will include legislative appropriations and crypto assets seized by the state.

To limit risk, the treasurer would be allowed to invest no more than 10% of total fund deposits per fiscal year. However, the state could loan out digital assets to generate returns as long as it doesn’t add financial risk.

Another Bill Aims to Allow Bitcoin Investments

A second Bitcoin-related bill is also moving forward. The Strategic Bitcoin Reserve Act (SB 1025), co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, passed the Senate with a 17-11 vote.

Unlike Finchem’s bill, which focuses on managing seized crypto assets, SB 1025 allows the state to invest public funds directly into Bitcoin and other cryptocurrencies. This signals Arizona’s growing commitment to incorporating digital assets into its financial strategy.

Crypto Legislation Gaining Momentum Nationwide

Dennis Porter, founder of Satoshi Action Fund, believes federal regulation of cryptocurrencies is inevitable. He predicts lawmakers will first regulate stablecoins, followed by broader market structure rules, and eventually, Bitcoin reserves.

While Arizona and Utah are leading the push for crypto reserves, 18 other states are still waiting for approval. However, not all states are on board—Montana, Wyoming, and others have rejected similar plans, calling Bitcoin too risky.

Trump Weighs Heavy on the Markets

Despite increasing political support for crypto, Bitcoin’s price has taken a hit. The asset dropped below $80K, and analysts fear it could fall further to $70K–$75K. Bitcoin is down 17% this week, with Trump’s tariff policies adding to market uncertainty.

Amid the panic, Michael Saylor jokingly told investors to “sell a kidney if you must, but keep the Bitcoin.” While Saylor continues to advocate for a U.S. Bitcoin reserve, the recent price drop has given skeptics more reason to doubt Bitcoin’s long-term stability.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Trump Warns: “Perfect Time” for FED Rate Cuts — Will Jerome Powell Listen?

The debate surrounding FED rate cuts continues to swirl, as U.S. President Donald Trump clarified…

April 23, 2025

Crypto News: SEC Exposes Fake Crypto Trading Platform That Cost Investors $198 Million

The SEC has yet again cracked down on crypto fraud. The agency has charged the…

April 23, 2025

Why is XRP Price Going Up Today?

Bitcoin has reclaimed the $90,000 level for the first time since March, surging as investors…

April 23, 2025

Pi Coin Price Prediction Today: Can it Hit $1 Ahead of Massive 223M Token Unlock?

Pi Coin is currently showing decent gains of over 3% on the day, but the…

April 23, 2025

Why Crypto Market Is Up Today? Bitcoin Price Surge Past $93K

The crypto market today is seeing gains as Bitcoin price surge above $93,000, triggering a…

April 23, 2025

Why Crypto Go Up Today? Shiba Inu Price, SUI Crypto, XRP News, Solana News

April 23, 2025 03:38:55 UTC XRP News: XRPL SDK Hit by Critical Backdoor Vulnerability Aikido…

April 23, 2025