On February 13, representatives Bryan Postthumus and Ron Robinson tabled HB 4087, a bill to establish a strategic bitcoin reserve.
This makes Michigan the 20th US state to offer similar legislation linked to crypto reserves. This underlines the growing trend of states exploring digital assets as part of their investment strategies to a crypto reserve bill.
Michigan Eyes Crypto Leadership with Bold Treasury Bill
POSTHUMUS is impatient for Michigan to follow in the footsteps of Texas, saying that the state should lead to cryptographic policy. His bill would allow the treasurer of Michigan to invest in the crypto of the general fund and the economic stabilization fund, with a ceiling of 10%. However, the bill does not describe which specific cryptocurrencies could be purchased for the reserve, leaving room for future flexibility. Another key characteristic of the bill is the layout of the crypto. The bill allows the State to lend a cryptocurrency as long as it does not increase financial risks, allowing the State to generate additional yields.
The proposed bill also includes measures to ensure that state cryptographic assets are safely managed. The State should store the crypto via secure childcare solutions or stock markets on the stock market with registered investment companies. The Michigan State Pension Fund is already exposed to Bitcoin and Ether through funds negotiated on the stock market. It gives the state a foot in the door of digital assets.
Michigan can and should join Texas to direct cryptographic policy by disconnecting my bill creating the strategic reserve of Michigan Crypto.
– Rep. Bryan posthumus (@posthumus_bryan) February 13, 2025
POSTHUMUS also launched the idea of creating a stablecoin on a state back, which he calls “Michcoin”. It would be linked to the gold and silver reserves of Michigan. This concept would also constitute the State’s commitment to adopt digital currencies within the framework of its financial future.
Learn more about Bitcoin Bills
The Texas Bitcoin Strategic Bitcoin Reserve Bill is gaining momentum, with a hearing date set for February 18. This marks a critical step towards the State which invests potentially in Bitcoin in the context of its financial strategy.
Breaking: the Bitcoin Strategic Reserve Bill in Texas received a hearing date on February 18 – Thanks to @LTGOVTX For having made this bill a priority. pic.twitter.com/60sq2bo3dc
– Dennis Porter (@dennis_Porte_) February 13, 2025
The bill, which aims to establish a bitcoin reserve, reflects the continuous efforts of Texas to position itself as a leader in the adoption and policy of cryptography. In the event of success, the legislation could open the way to Texas to consolidate its pioneer role in the integration of digital assets in state governance.
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