After seven months of inactivity, Michigan’s Bitcoin Reserve Invoice, HB 4087, made progress Thursday by advancing to the second studying within the state Home of Representatives.
The invoice, launched in February, goals to ascertain a strategic bitcoin reserve by authorizing the state treasury to speculate as much as 10% of its reserves within the largest cryptocurrency and probably others. It has now been referred to the Committee on Authorities Operations.
If authorised, Michigan would be a part of the three states — Texas, New Hampshire and Arizona — which have enacted bitcoin reserve legal guidelines. Whereas Texas allotted $10 million to buy BTC in June, the opposite two have but to fund the reserve with state cash.
Lately, the U.S. Home directed the Treasury Division to check the feasibility and governance of a strategic bitcoin reserve, together with key areas akin to custody, cybersecurity and accounting requirements.
Sovereign adoption of bitcoin has emerged as one of many defining traits of 2025, with a number of U.S. states and international locations contemplating or implementing BTC reserves as a part of their public finance technique. That is along with the rising company adoption of bitcoin in firm treasuries.
This institutional embrace has contributed to a major increase in bitcoin’s market valuation. The BTC value has elevated 25% this yr, and touched a report excessive close to $124,500 in August, CoinDesk knowledge present.
Regardless of the keenness, skeptics stay involved concerning the dangers posed by bitcoin’s infamous value volatility.