{"id":128553,"date":"2025-05-04T06:28:37","date_gmt":"2025-05-04T06:28:37","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128553"},"modified":"2025-05-04T06:28:37","modified_gmt":"2025-05-04T06:28:37","slug":"bitcoiners-blast-arizona-governors-ignorance-after-bitcoin-bill-veto","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128553","title":{"rendered":"Bitcoiners blast Arizona governor\u2019s \u2018ignorance\u2019 after Bitcoin bill veto"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoiners and United States government officials have criticized Arizona Governor Katie Hobbs\u2019s decision to veto a bill that would have allowed the state to hold Bitcoin as part of its official reserves.<br \/>\n\u201cThis will age poorly,\u201d Casa co-founder and cypherpunk Jameson Lopp said in a May 3 X post. Bitcoin (BTC) entrepreneur Anthony Pompliano said, \u201cImagine the ignorance of a politician to believe they can make investment decisions.\u201d<br \/>\nCall for government officials who understand Bitcoin is \u201cthe future\u201d<br \/>\n\u201cIf she can\u2019t outperform Bitcoin, she must buy it,\u201d Pompliano said. Crypto lawyer Andrew Gordon said, \u201cWe need more elected officials who understand that Bitcoin and crypto are the future.\u201d<br \/>\nSource: Julian FahrerWendy Rogers, who co-sponsored the bill with State Representative Jeff Weninger, also voiced her disappointment.<br \/>\n\u201cPoliticians don\u2019t understand that Bitcoin doesn\u2019t need Arizona. Arizona needs Bitcoin,\u201d Rogers said.<br \/>\nOn May 2, Hobbs vetoed the Arizona Strategic Bitcoin Reserve Act, which would have permitted Arizona to invest seized funds into Bitcoin and create a reserve managed by state officials. \u201cToday, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,\u201d Hobbs said.<br \/>\nSource: Dr. DanishRogers said she would refile the bill during her next session. Rogers also pointed out that Arizona\u2019s state retirement system already holds stocks of Michael Saylor\u2019s Strategy (MSTR).<br \/>\n\u201cWhich is basically a leveraged Bitcoin ETF. Arizona\u2019s Strategic Bitcoin Reserve bill will be back. HODL,\u201d Rogers said. The stock price of Strategy rose 32% in April, the most significant monthly gain since November 2024.<br \/>\nRelated: US gov\u2019t actions give clue about upcoming crypto regulation<br \/>\nHowever, well-known crypto skeptic Peter Schiff sided with Hobbs. \u201cThe government should not be making decisions to use public funds to speculate in cryptocurrencies,\u201d Schiff said.<br \/>\nArizona would have become the first US state to establish a Bitcoin Strategic Reserve if it had passed.<br \/>\nArizona joins several other US states where similar efforts have failed. Similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn recently.<br \/>\nMagazine: Bitcoin to $1M \u2018by 2029,\u2019 CIA tips its hat to Bitcoin: Hodler\u2019s Digest, April 27 \u2013 May 3<a href=\"https:\/\/cointelegraph.com\/news\/arizona-governor-katie-hobbs-veto-bitcoin-bill-bitcoiners-react?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoiners and United States government officials have criticized Arizona Governor Katie Hobbs\u2019s decision to veto a bill that would have allowed the state to hold Bitcoin as part&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128553"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128553"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128553\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128553"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}