Michigan Eyes Bitcoin Reserve, Joins Growing State Trend

Michigan’s plan to establish a state-run Bitcoin (BTC) reserve is moving forward after months of ￰0￱ Bill 4087, introduced in February, cleared initial hurdles this week and was referred to the Government Operations ￰1￱ passed, the law would authorize the state treasurer to allocate up to 10% of Michigan’s general and stabilization funds into cryptocurrency, with strict rules for custody and ￰2￱ measure is backed by Republican Representatives Bryan Posthumus and Ron Robinson and mirrors similar moves in Texas, New Hampshire, and Arizona , where state-level Bitcoin reserve laws are already in place. Currently, around 47 states have proposed or considered Bitcoin reserve legislation, and about 26 still have active bills in ￰3￱ the federal level, the ￰4￱ has also asked the Treasury Department to study the feasibility of a national Bitcoin reserve, focusing on custody, cybersecurity, and accounting standards.