Michigan Advances Bitcoin Reserve Plan Amid State-Level Initiatives
Michigan's plan for a state-run Bitcoin (BTC) reserve progresses after initial delays.
House Bill 4087, introduced in February, has moved to the Government Operations Committee.
The bill permits the allocation of up to 10% of Michigan’s general and stabilization funds into cryptocurrency, with strict custody and security rules.
The initiative is supported by Republican Representatives Bryan Posthumus and Ron Robinson.
This move mirrors similar actions in Texas, New Hampshire, and Arizona.
Nationwide, 47 states have proposed Bitcoin reserve legislation; 26 have active bills.
On a federal level, the U.S. House has requested a study on the feasibility of a national Bitcoin reserve, focusing on custody, cybersecurity, and accounting standards.
