After seven months of inactivity, the Bitcoin de Michigan Reserve bill, HB 4087, progressed on Thursday by advancing to the second reading in the State Representatives Chamber.
The bill, presented in February, aims to establish a strategic bitcoin Reserve authorizing the State Treasury to invest up to 10% of its reserves in the largest cryptocurrency and possibly in others. He has now been sent to the Government Operations Committee.
If approved, Michigan would join the three states, Texas, New Hampshire and Arizona, who have promulgated Bitcoins reserve laws. While Texas allocated $ 10 million to buy BTC in June, the other two have not yet financed the reservation with state money.
Recently, the United States House ordered the Treasury Department to study the viability and governance of a strategic Bitcoins reserve, including key areas such as custody, cybersecurity and accounting standards.
The sovereign adoption of Bitcoin has become one of the defining trends of 2025, with several US states and countries considering or implementing BTC reserves as part of its public finance strategy. That adds to the growing corporate adoption of Bitcoin in the company’s treasure bonds.
This institutional hug has contributed to a significant impulse in the assessment of the Bitcoin market. The BTC price has increased 25% this year, and touched on a record record about $ 124,500 in August, according to Coindesk data.
Despite the enthusiasm, the skeptics are still concerned about the risks raised by the notorious volatility of Bitcoin prices.
