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Two US states pass Bitcoin reserve laws worth millions in 48 hours

Two US states pass Bitcoin reserve laws worth millions in 48 hours

GrafaGrafa2025/05/09 08:10
By:Mahathir Bayena

Two U.S. states enacted legislation within 48 hours to establish strategic Bitcoin (CRYPTO:BTC) reserves, signaling growing bipartisan support for integrating cryptocurrency into state financial strategies.

New Hampshire became the first state to pass a Strategic Bitcoin Reserve (SBR) law on May 6, followed by Arizona’s approval of House Bill 2749 on May 7.

New Hampshire’s HB 302 set a precedent by allowing the state to hold Bitcoin as part of its financial assets.

Arizona’s HB 2749 enables the state to convert unclaimed property funds into Bitcoin and other major digital assets under U.S.-regulated custody.

The law requires diversification of assets and mandates that Bitcoin holdings remain in native digital form to return value as Bitcoin rather than cash.

Arizona Governor Katie Hobbs signed the bill shortly after vetoing a similar Senate Bill 1025, indicating a policy shift coinciding with New Hampshire’s move.

Texas is positioned to become the third state to adopt a Bitcoin reserve, with Senate Bill 21 advancing through the House Committee on Delivery of Government Efficiency.

“Bitcoin can unite us. You are not bullish enough,” noted Dennis Porter, CEO of the Satoshi Action Fund, highlighting the bipartisan nature of the recent laws.

House Commerce Committee Chairman Jeff Weninger, sponsor of Arizona’s bill, acknowledged the efforts of advocates and thousands of engaged citizens in pushing the legislation forward.

Some policymakers remain cautious, but supporters view Bitcoin reserves as a hedge against inflation and a way to utilise idle state assets for public benefit.

The rapid succession of these laws reflects a growing trend among states to incorporate Bitcoin into their fiscal planning.

At the time of reporting, the Bitcoin (BTC) price was $102,536.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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