比特幣法案拒絕：亞利桑那州州長停止加密養老金策略

亞利桑那州州長凱蒂·霍布斯（Katie Hobbs）正式否決了一項法案，該法案將允許該州作為其退休基金投資的一部分創建比特幣儲備。

Arizona Governor Katie Hobbs has officially vetoed a bill that would have allowed the state to invest part of its retirement fund in Bitcoin (BTC).

亞利桑那州州長凱蒂·霍布斯（Katie Hobbs）正式否決了一項法案，該法案將使該州投資其退休基金的比特幣（BTC）。

The bill, Senate Bill 1025, was passed by the state legislature earlier this year and would have authorized the Arizona State Retirement System to put up to 2.5% of its portfolio into cryptoassets. It was seen as a major win for the crypto community in the state.

該法案是參議院1025號法案，該法案已於今年早些時候通過州立法機關通過，並將授權亞利桑那州退休制度將其投資組合的2.5％置於加密貨幣中。它被認為是該州加密社區的重大勝利。

However, Governor Hobbs, known for her stance against risky investments for critical state funds, ultimately decided to reject the bill. In a veto letter to Senate President Warren Petersen, dated May 2, 2025, Governor Hobbs stated:

但是，霍布斯州長以反對對關鍵州資金的冒險投資的立場而聞名，最終決定拒絕該法案。霍布斯州長在致參議院總統沃倫·彼得森（Warren Petersen）的否決信中說：

“This bill would authorize the Arizona State Retirement System to invest in digital currency, commonly known as cryptocurrency, such as Bitcoin.

“該法案將授權亞利桑那州退休系統投資數字貨幣，通常稱為加密貨幣，例如比特幣。

While I appreciate the legislature’s interest in exploring new investment opportunities for the state, I ultimately must veto this bill.

儘管我感謝立法機關探索國家新投資機會的興趣，但我最終必須否決該法案。

The Arizona State Retirement System is one of the strongest in the nation due to its conservative, informed investment approach. We must be cautious about adding new investment classes, especially those with the potential for significant volatility.

亞利桑那州退休制度由於其保守，知情的投資方法，是美國最強的退休制度之一。我們必須謹慎添加新的投資班，尤其是那些具有重大波動性的投資班。

Despite the recent rise in the use and acceptance of Bitcoin and other cryptocurrencies, these remain high-risk assets that are not suitable for investment by the state retirement system. As these technologies continue to develop, we can reconsider this legislation in the future.”

儘管最近使用和接受比特幣和其他加密貨幣，但這些仍然是不適合國家退休系統投資的高風險資產。隨著這些技術的繼續發展，我們將來可以重新考慮這項立法。 ”

Strong Point Of View From Governor Hobbs

霍布斯州長的強烈觀點

Governor Hobbs's decision to veto the bill is likely to disappoint supporters of crypto who had hoped to see more states adopt Bitcoin and other digital currencies as part of their investment strategies.

霍布斯州長否決該法案的決定可能會使加密貨幣的支持者失望，他們希望看到更多的州採用比特幣和其他數字貨幣作為其投資策略的一部分。

It is also a setback for those who are interested in seeing new technologies adopted by government bodies.

對於那些有興趣看到政府機構採用的新技術的人來說，這也是挫折。

However, Governor Hobbs's stance is shared by many who believe that public pensions should be focused on security and stability rather than on high-risk assets, no matter how promising they may appear. They are also concerned about the lack of regulation in the crypto industry.

但是，許多人認為，公共養老金應該專注於安全性和穩定而不是高風險資產，無論他們看起來多麼有希望。他們還擔心加密行業缺乏法規。

The governor's decision comes at a time when institutional interest in Bitcoin is rapidly increasing. Earlier this week, it was reported that asset management giant BlackRock (NYSE:BLK) had purchased a substantial stake in Bitcoin, adding to a recent wave of institutional investment in the cryptocurrency.

州長的決定是在比特幣的機構利益迅速增加的時候。本週早些時候，據報導，資產管理巨頭貝萊德（NYSE：BLK）購買了比特幣的大量股份，這增加了最近在加密貨幣的機構投資浪潮。

According to a report by Glassnode, institutions have now accumulated a record amount of Bitcoin, with on-exchange supply at its lowest level since 2012.

根據GlassNode的一份報告，機構現在積累了創紀錄的比特幣，自2012年以來的最低水平上的交換供應量。

This move by Arizona could have ripple effects across other states considering similar Bitcoin-based financial instruments.

亞利桑那州的這一舉動可能會在其他州考慮類似的基於比特幣的金融工具的其他州產生連鎖反應。

While interest from large institutions like BlackRock and Fidelity is escalating rapidly – impending a new bull market in BTC, according to Ben Armstrong – state governments like Arizona appear to be proceeding with more caution.

儘管本·阿姆斯特朗（Ben Armstrong）的說法，諸如貝萊德（Blackrock）和富達（Fidelity）這樣的大型機構的興趣正在迅速升級 - 即將在BTC的新牛市中升級，但像亞利桑那州這樣的州政府似乎正在謹慎行事。