Key Takeaways
- Senator Wendy Rogers plans to reintroduce her vetoed Bitcoin reserve bill.
- The bill would allow Arizona to allocate retirement funds to Bitcoin.
- Arizona's pension system may already hold indirect Bitcoin exposure.
Arizona State Senator Wendy Rogers has announced plans to reintroduce her Strategic Bitcoin Reserve (SBR) bill after it was vetoed by Governor Katie Hobbs.
The legislation, Senate Bill 1025, aimed to allow the state treasurer to allocate a portion of Arizona’s retirement funds to Bitcoin.
Governor’s veto & its implications
The bill passed both legislative chambers without amendment, but Governor Hobbs rejected it, citing the volatility and untested nature of digital assets.
Her veto marked the first time a sitting U.S. governor has formally blocked such a Bitcoin initiative.
Rogers’ response to the veto
Rogers expressed frustration at the decision, stating:
Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin. I will refile my bill next session.
She added that if Hobbs vetoes the bill again, a future governor might be more receptive:
If she vetoes it again, I am sure Governor Andy Biggs will be happy to take credit for signing the bill.
Ongoing Bitcoin legislation in Arizona
Although SB1025 is shelved for now, Arizona’s engagement with Bitcoin legislation isn’t over.
Another proposal, Senate Bill 1373, remains active.
It seeks to allow the state to manage Bitcoin and other digital assets obtained through seizures or appropriations—without involving retirement funds.
Indirect Bitcoin exposure in Arizona’s pension system
Data shared by Bitcoin Laws founder Julian Fahrer suggests Arizona’s pension system already has indirect exposure to Bitcoin through investments in Strategy, the largest corporate holder of the asset.
