{"id":23639,"date":"2025-05-04T09:42:33","date_gmt":"2025-05-04T06:42:33","guid":{"rendered":"https:\/\/forklog.com\/en\/arizonas-attempt-to-establish-a-bitcoin-reserve-fails\/"},"modified":"2025-05-04T09:42:33","modified_gmt":"2025-05-04T06:42:33","slug":"arizonas-attempt-to-establish-a-bitcoin-reserve-fails","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/arizonas-attempt-to-establish-a-bitcoin-reserve-fails\/","title":{"rendered":"Arizona&#8217;s Attempt to Establish a Bitcoin Reserve Fails"},"content":{"rendered":"<p>Arizona Governor Katie Hobbs <a href=\"https:\/\/www.azleg.gov\/govlettr\/57leg\/1r\/sb1025.pdf\">vetoed<\/a> a bill that would have allowed the state treasurer and pension funds to invest up to 10% of their assets in virtual currencies such as Bitcoin.<\/p>\n<p><!--more--><\/p>\n<p>The governor emphasized that public finances are not the place for &#8220;unproven investments,&#8221; which she categorized digital currencies as.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;The Arizona state pension system is one of the most stable in the U.S. because it makes prudent and well-founded investments. The pension savings of state residents are not the place to experiment with unproven assets like virtual currencies,&#8221; stated Governor Katie Hobbs.<br \/><\/cite><\/p><\/blockquote>\n<p>Bill number 1025, <a href=\"https:\/\/u1f987.com\/en\/news\/arizona-lawmakers-approve-bitcoin-reserve-initiative\">approved<\/a> by the State House of Representatives with a narrow margin (31 to 25), proposed investing seized funds in Bitcoin and creating a state-managed digital asset reserve.<\/p>\n<p>The bill was co-authored by Senator Wendy Rogers and Representative Jeff Weninger, both Republicans.<\/p>\n<p>The governor&#8217;s decision drew sharp criticism from the Bitcoin community.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;Impeach Katie Hobbs\u2014she just let Arizona down,&#8221; <a href=\"https:\/\/x.com\/DavidFBailey\/status\/1918658105539194917\">commented<\/a> Bitcoin Magazine&#8217;s CEO David Bailey.<\/cite><\/p><\/blockquote>\n<p>Arizona could have become the first U.S. state to include digital gold in its financial reserves. <\/p>\n<p>Back in early March, U.S. President Donald Trump <a href=\"https:\/\/u1f987.com\/en\/news\/trump-establishes-u-s-strategic-bitcoin-reserve\">signed an order<\/a> to establish a federal <span data-descr=\"strategic bitcoin reserve\" class=\"old_tooltip\">SBR<\/span> based on assets seized by the Treasury.<\/p>\n<p>In states such as <a href=\"https:\/\/u1f987.com\/en\/news\/oklahoma-senate-rejects-bitcoin-reserve-proposal\">Oklahoma<\/a>, Montana, Pennsylvania, North and South Dakota, and Wyoming, attempts to create a strategic Bitcoin reserve also <a href=\"https:\/\/u1f987.com\/en\/news\/montana-house-rejects-bitcoin-reserve-bill-2\">failed<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arizona Governor Katie Hobbs vetoed a bill that would have allowed the state treasurer and pension funds to invest up to 10% of their assets in virtual currencies such as Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":23638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1641,26],"class_list":["post-23639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-reserves","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/23639","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=23639"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/23639\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/23638"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=23639"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=23639"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=23639"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}