Michigan Bitcoin Reserve Bill Advances to Second House Reading

The Michigan Bitcoin Reserve Bill, HB 4087, has advanced to the second reading in the state's House of Representatives after being inactive for seven months.
The bill proposes that the state treasury invest up to 10% of its reserves in [Bitcoin](https://holder.io/coins/btc/) and potentially other cryptocurrencies.
If passed, Michigan would join Texas, New Hampshire, and Arizona in having bitcoin reserve laws. However, only Texas has allocated funds ($10 million) for its reserve so far.
Recently, the U.S. House asked the Treasury Department to explore the feasibility and management of a strategic bitcoin reserve, addressing custody, cybersecurity, and accounting standards.
Sovereign adoption of bitcoin is a significant trend in 2025, with various U.S. states and countries exploring BTC reserves as part of their financial strategy.
This institutional interest has contributed to a 25% increase in BTC's market valuation this year, reaching a high of nearly $124,500 in August.
There are concerns about Bitcoin's price volatility despite growing institutional adoption.