Michigan Lawmakers Introduce Bill to Invest State Funds in Cryptocurrency

Michigan lawmakers Bryan Posthumus and Ron Robinson have introduced House Bill 4087, which proposes allowing the state to invest up to 10% of its general and economic stabilization funds into cryptocurrencies, including Bitcoin. The bill aims to position Michigan as a leader in digital asset investment.

Key points include:

• The state treasurer would manage crypto investments.
• The bill allows lending out cryptocurrencies for additional revenue.
• This follows Texas's reintroduction of SB 21, which expands investment options beyond Bitcoin.

Michigan has previously established a blockchain and crypto commission to explore sector opportunities. Other states, such as Utah, are advancing similar Bitcoin reserve initiatives, with around 20 states evaluating comparable legislation.

On the federal level, President Trump has initiated discussions regarding a national digital asset stockpile, reflecting growing interest in cryptocurrency regulation and investment.