From Cointelegraph
May 4, 2025 2:04 am:

Arizona Governor Katie Hobbs vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, drawing criticism from Bitcoiners and government officials. The bill aimed to invest seized funds into Bitcoin, creating a reserve managed by state officials. If passed, Arizona would have become the first US state with a Bitcoin Strategic Reserve.

Wendy Rogers, who co-sponsored the bill, expressed disappointment at the veto. She plans to refile the bill in the next session, highlighting that Arizona’s state retirement system already holds stocks of Michael Saylor’s Strategy (MSTR), a leveraged Bitcoin ETF. The bill faced opposition from well-known crypto skeptic Peter Schiff, who believes public funds should not be used to speculate in cryptocurrencies.

Bitcoin entrepreneur Anthony Pompliano called for more government officials who understand that Bitcoin and crypto are the future. Pompliano emphasized that if a politician can’t outperform Bitcoin, they should consider investing in it. Despite the veto, Rogers remains determined to push forward with the Strategic Bitcoin Reserve bill in Arizona, aiming to establish a Bitcoin reserve managed by the state.

Read more at Cointelegraph: Bitcoiners blast Arizona governor’s ‘ignorance’ after Bitcoin bill veto