Andrew Grant
Arizona has cleared both of its Bitcoin reserve bills through the House Rules Committee, putting the state on track to become the first to establish a strategic digital asset reserve.
Following a March 24 voting session, the bills passed through the Arizona House Rules Committee and are now headed to the full House for a vote.
The two proposals — SB 1373 and SB 1025 — both seek to establish reserves of digital assets but differ in their focus and funding sources.
SB 1373, the Strategic Digital Assets Reserve Bill, would allow the state treasurer to manage a fund composed of confiscated digital assets. Up to 10% of the fund’s value could be invested each year, with the option to loan assets as long as it doesn’t increase risk.
SB 1025, the Arizona Strategic Bitcoin Reserve Act, specifically targets Bitcoin. It would permit the state treasury and retirement system to invest up to 10% of available funds into Bitcoin. The bill also includes a provision to store the Bitcoin in a secure, segregated federal reserve account.
If the bills clear the full vote on the House floor, they will head to Democratic Governor Katie Hobbs, whose approval remains the final hurdle.
According to a March 25 X post by Bitcoin Laws on X, the bills have a decent shot at passing in the House due to the Republican majority but could face challenges at the governor’s desk.
Notably, Hobbs is known for vetoing Republican-led legislation and has rejected 22 percent of bills in 2024 — the highest rate of any U.S. governor.
As of March 25, data from Bitcoin Laws shows Arizona leading the race to establish a state-backed Bitcoin reserve, followed closely by Oklahoma and Texas.
The Texas Senate approved SB-21, its Strategic Bitcoin Reserve Bill, in a 25–5 vote on March 6. The bill now moves to the state House for consideration, followed by the governor’s desk if passed.
However, just days later, Democrat Representative Ron Reynolds introduced a separate proposal to cap the reserve size at $250 million in a bid to limit the scale of the state’s Bitcoin holdings.
Meanwhile, on March 25, Oklahoma’s House passed its Bitcoin Reserve Bill (HB1203) with strong support in a 77–15 vote. The bill now moves to the state Senate for further consideration.
