Arizona Becomes Second State To Establish Strategic Bitcoin Reserve

Arizona has made history by becoming the second state in the U.S. to create a Strategic Bitcoin Reserve. On Thursday, Governor Katie Hobbs signed House Bill 2749 into law, officially launching the Arizona Bitcoin & Digital Assets Reserve, a pioneering move that channels profits from unclaimed property into Bitcoin and other top-tier digital assets. The bill outlines several key features: Redirection of unclaimed-property profits toward Bitcoin and other digital assets Use of interest, staking rewards, and airdrops from abandoned property to fund strategic acquisitions Strong diversification rules, ensuring Bitcoin supplements — but doesn’t dominate — Arizona’s investment portfolio Mandated U.S.-regulated custody for the assets Clear implementation steps that allow the state to begin purchasing digital assets and “stacking sats” Native Bitcoin redemption, which means lost Bitcoin can be returned in BTC rather than U.S. dollars The law positions Arizona alongside New Hampshire in transforming idle state assets into potentially appreciating stores of value. By putting otherwise unused funds to work, the state is taking a strategic, forward-looking approach to safeguard its treasury without raising taxes or using the general fund. “Arizona just showed the country how to turn forgotten assets into a fortress against inflation,” said Dennis Porter, CEO and Co-Founder of the Satoshi Action Fund, a key advocate for the bill. “With HB 2749, lawmakers converted dormant dollars into digital gold — without touching the taxpayer’s pocket. It’s a win for fiscal responsibility and for every Arizonan who believes in sound money.” Cryptocurrency exchange Coinbase also played a role by offering expert testimony that helped propel the bill through legislative hurdles, according to Satoshi Action Fund. Their involvement gave lawmakers a clearer understanding of the financial and technological implications of Bitcoin-based reserves. Representative Jeff Weninger (R-Chandler), the bill’s sponsor, was credited with tirelessly shepherding the legislation from its early draft stages through multiple committee hearings, stakeholder meetings, and floor votes, ultimately securing bipartisan support and ensuring its successful passage into law. “Digital assets aren’t the future—they’re the present,” said Weninger. “This law ensures Arizona doesn’t leave value sitting on the table and puts us in a position to lead the country in how we secure, manage, and ultimately benefit from abandoned digital currency. We’ve built a structure that protects property rights, respects ownership, and gives the state tools to account for a new category of value in the economy. It’s exactly the kind of policy we should be leading on—modern, precise, and built with an understanding of where technology and finance are heading.” The Satoshi Action Fund, which helped draft and advocate for HB 2749, has become a leading voice in Bitcoin policy. To date, the organization has contributed to the passage of eight pro-Bitcoin laws and inspired more than 20 additional legislative efforts across the country. Source: https://bitcoinmagazine.com/news/arizona-becomes-second-state-to-establish-strategic-bitcoin-reserve