After seven months inactive, the Bitcoin Reserve Bill of Michigan, HB 4087, make a development Thursday By advancing to Second reading In the State House of Representative.
The billintroduced in February, aimed at establishing a strategic bitcoin Reserve by allowing the state’s treasury to invest up to 10% of its reserves in the largest cryptocurrency and perhaps in others. This is already referred to in the Committee on Government Operations.
If approved, Michigan will join the three states – Texas, New Hampshire and Arizona – which enacted Bitcoin reserve laws. While Texas Allocated $ 10 million To buy BTC in June, the other two had not yet to fund the state’s reserve.
Recently, the US House has ordered the Treasury Department to study the feasibility and management of a strategic bitcoin reserve, including major areas such as caution, cybersecurity and accounting standards.
Bitcoin’s sovereign adoption has emerged as one of the determination of the trends of 2025, with some US states and countries considered or implemented by BTC reserves as part of their public financial strategy. That is in addition to growing Bitcoin corporate adoption to Company company.
This institutional embrace contributed to a significant strengthening of the Bitcoin market appreciation. The BTC price rose 25% this year, and held a record high close to $ 124,500 in August, CoinDesk data show.
Despite the enthusiasm, those who doubt remain concerned about the dangers of unknown volatility of bitcoin prices.
