After seven months of inactivity, Michigan’s Bitcoin reserve Bill, HB 4087, made progress on Thursday by moving on to the second reading in the state representative house.
The bill introduced in February is aiming to establish a strategic Bitcoin Reserves by authorizing the Treasury to invest up to 10% of its reserves in the largest cryptocurrency and possibly others. It has now been referred to the Committee on government operations.
If approved, Michigan would join the three states – Texas, New Hampshire and Arizona – who have adopted Bitcoin Reserve -Love. While Texas awarded $ 10 million to buy BTC in June, the other two have not yet funded the reserve with state money.
Recently, the US House instructed the State Department to investigate the feasibility and management of a strategic Bitcoin reserve, including key areas such as custody, cyber security and accounting standards.
SOVEREIGN Adoption of Bitcoin has emerged as one of the defining trends in 2025, where several US states and countries are considering or implementing BTC reserves as part of their public economy strategy. It is in addition to the growing business recording of Bitcoin in corporate chains.
This institutional embrace has contributed to a significant boost in Bitcoin’s market assessment. The BTC price has risen 25% this year and affected a record high near $ 124,500 in August, Coindesk data shows.
Despite the enthusiasm, skeptics remain concerned about the risks of Bitcoin’s notorious award volatility.
