Arizona Takes Bold Step with Bitcoin Reserve Initiative

Arizona has officially become the second U.S. state to establish a strategic Bitcoin reserve, following in the footsteps of New Hampshire. Governor Katie Hobbs signed HB 2749 into law, marking a significant step in the state’s approach to digital assets.

Under the new legislation, Arizona will build its Bitcoin reserve using funds from unclaimed property—financial assets that have been forgotten or abandoned and are transferred to state custody. Additionally, the state plans to grow its reserve by collecting staking rewards and airdrops, tapping into the broader crypto ecosystem for passive growth.

While this bill is a scaled-down version of SB 1025—which Governor Hobbs vetoed earlier this week—HB 2749 still makes room for direct Bitcoin investment. The original, more ambitious bill would have allowed the state to allocate public funds and seize crypto assets directly into Bitcoin. Despite that veto, HB 2749’s passage signals growing bipartisan momentum for crypto policy at the state level.

Arizona’s move came shortly after New Hampshire, a known libertarian stronghold, passed legislation allowing up to 5% of its state funds to be invested in Bitcoin. The back-to-back approvals have stirred optimism among crypto advocates who see government adoption as a major milestone.

Bitwise CEO Hunter Horsley celebrated the news, noting, “Second state in two weeks. Not a fickle decision. A law. Bitcoin is entering the mainstream.” Former Binance CEO Changpeng Zhao added, “You can buy while governments are buying or after they have bought,” echoing the sentiment that institutional and state-level interest in Bitcoin is accelerating.

With more states showing willingness to experiment with Bitcoin reserves, Arizona’s decision is another sign that crypto is inching closer to mainstream acceptance, even among lawmakers who have traditionally approached it with caution.

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