Arizona Makes 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

Governor Katie Hobbs has signed House Bill 2749, establishing the Arizona Bitcoin & Digital Assets Reserve.

Several state lawmakers and organizations played a role in championing the bill, which passed the state legislature in April and puts the U.S. state in a position to diversify its treasury with bitcoin and other top-tier digital assets.

The law channels profits from unclaimed property into a new generation of assets, building on existing programs for coins, cash and other valuables that are returned to the state when their owners can’t be located.

"A sunny state rolls on. Governor Hobbs signs HB 2749, creating the Arizona Bitcoin & Digital Assets Reserve! 🏛️ Coins, cash and other valuables are returned to the state when their owners can’t be located. Now, Arizona will also claim its share of abandoned digital assets.

"This legislation is a testament to the tireless efforts of Representative Jeff Weninger (R-Chandler), who sponsored the bill and secured its passage through multiple committee hearings, stakeholder meetings and floor votes.

"Several organizations played a key role in championing the bill and providing expertise on digital assets and blockchain technology. The Satoshi Action Fund, a non-partisan organization focused on advancing sound money policies, drafted the bill and mobilized grassroots support. Coinbase offered expert testimony that helped propel the bill through legislative hurdles.

"This 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. 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," said Dennis Porter, CEO and Co-Founder of the Satoshi Action Fund.

"This bill is a significant step forward in recognizing the growing importance of digital assets and ensuring that Arizona benefits from this emerging technology," said Ben Holden, Head of Government Relations at Coinbase. "We were proud to offer our expertise and support to Representative Weninger and the legislature in navigating the financial and technological implications of Bitcoin-based reserves."

"Digital assets aren’t the future -- they’re the present. 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," said Weninger.

The Satoshi Action Fund has become a leading voice in Bitcoin policy. To date, the organization has contributed to the passage of eight pro-Bitcoin laws and is currently tracking more than 20 additional legislative efforts across the country. The organization also provides free resources and analysis to policymakers, academics and members of the media interested in learning more about Bitcoin and blockchain technology.