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Michigan Bitcoin Reserve Bill Advances to Government Operations Committee

Michigan Bitcoin Reserve Bill Advances to Government Operations Committee

Michigan’s HB 4087 has advanced to the Government Operations Committee, positioning the state among those considering Bitcoin as a strategic reserve asset.

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Summary

Michigan's Bitcoin Reserve Bill, HB 4087, has advanced to the second reading in the House and has been referred to the Government Operations Committee. The bill would authorize the state to invest up to 10% of its funds in Bitcoin, joining a growing list of U.S. states considering Bitcoin reserves. The bill includes strict custody and security measures, though concerns remain regarding the volatility of Bitcoin's value and its role as a reserve asset.

Terms & Concepts
  • Bitcoin Reserve Bill: A legislative proposal allowing a state or governing body to allocate a portion of its funds into Bitcoin or other cryptocurrencies.
  • Cryptocurrency Investment Limit: A statutory cap on the proportion of funds that may be invested in digital assets, designed to manage risk and exposure.