比特币法案拒绝：亚利桑那州州长停止加密养老金策略

亚利桑那州州长凯蒂·霍布斯（Katie Hobbs）正式否决了一项法案，该法案将允许该州作为其退休基金投资的一部分创建比特币储备。

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).

亚利桑那州州长凯蒂·霍布斯（Katie Hobbs）正式否决了一项法案，该法案将使该州投资其退休基金的比特币（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.

该法案是参议院1025号法案，该法案已于今年早些时候通过州立法机关通过，并将授权亚利桑那州退休制度将其投资组合的2.5％置于加密货币中。它被认为是该州加密社区的重大胜利。

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，霍布斯州长以反对对关键州资金的冒险投资的立场而闻名，最终决定拒绝该法案。霍布斯州长在致参议院总统沃伦·彼得森（Warren Petersen）的否决信中说：

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

“该法案将授权亚利桑那州退休系统投资数字货币，通常称为加密货币，例如比特币。

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

尽管我感谢立法机关探索国家新投资机会的兴趣，但我最终必须否决该法案。

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.

亚利桑那州退休制度由于其保守，知情的投资方法，是美国最强的退休制度之一。我们必须谨慎添加新的投资班，尤其是那些具有重大波动性的投资班。

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.”

尽管最近使用和接受比特币和其他加密货币，但这些仍然是不适合国家退休系统投资的高风险资产。随着这些技术的继续发展，我们将来可以重新考虑这项立法。”

Strong Point Of View From Governor Hobbs

霍布斯州长的强烈观点

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.

霍布斯州长否决该法案的决定可能会使加密货币的支持者失望，他们希望看到更多的州采用比特币和其他数字货币作为其投资策略的一部分。

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

对于那些有兴趣看到政府机构采用的新技术的人来说，这也是挫折。

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，许多人认为，公共养老金应该专注于安全性和稳定而不是高风险资产，无论他们看起来多么有希望。他们还担心加密行业缺乏法规。

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.

州长的决定是在比特币的机构利益迅速增加的时候。本周早些时候，据报道，资产管理巨头贝莱德（NYSE：BLK）购买了比特币的大量股份，这增加了最近在加密货币的机构投资浪潮。

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.

根据GlassNode的一份报告，机构现在积累了创纪录的比特币，自2012年以来的最低水平上的交换供应量。

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

亚利桑那州的这一举动可能会在其他州考虑类似的基于比特币的金融工具的其他州产生连锁反应。

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.

尽管本·阿姆斯特朗（Ben Armstrong）的说法，诸如贝莱德（Blackrock）和富达（Fidelity）这样的大型机构的兴趣正在迅速升级 - 即将在BTC的新牛市中升级，但像亚利桑那州这样的州政府似乎正在谨慎行事。