So, like, Senate Bill 1025 was all about creating this digital assets reserve managed by the state, ya know? It was supposed to be a big deal, happening on May 3, 2025, at 4:01 p.m. in Arizona. But guess what? Arizona ain’t gonna be throwing any money into bitcoin (BTC) this year. Nope. Governor Katie Hobbs went ahead and vetoed that bill on Friday. The bill would’ve let the state invest in BTC using seized funds and manage a digital assets reserve. But Hobbs was like, “Nah, not gonna happen.”
She said, “The Arizona State Retirement System is, like, super strong ’cause it makes smart investments. We’re not gonna mess around with people’s retirement funds by playing with virtual currency.” And just like that, the bill got shut down real quick. Arizona could’ve been the first state to have a cryptocurrency reserve, maybe even beating the U.S. Treasury Department to the punch.
This Francisco Rodrigues dude, he’s a reporter for CoinDesk, and he’s all about cryptocurrencies and personal finance. He used to work for some big financial and crypto publications before joining CoinDesk. Oh, and he owns some bitcoin, ether, solana, and PAXG, just above CoinDesk’s $1,000 disclosure limit.
I mean, why does this even matter, right? Like, who cares if Arizona wants to invest in bitcoin or not? It’s not like it’s gonna make a huge difference in the grand scheme of things. But hey, I guess it’s newsworthy enough for Francisco to write about it.
So yeah, Arizona won’t be joining the crypto party just yet. Governor Hobbs made sure of that. And who knows, maybe in the future, they’ll change their minds. But for now, it’s a no-go on the bitcoin investment front. Not really sure why this matters, but hey, that’s the news for ya. Just another day in the world of finance and politics, I guess.
