Michigan's House Bill 4087 has resumed progress after seven months of inactivity, advancing to the Government Operations Committee. Initially introduced in February, the bill proposes allowing the state treasurer to allocate up to 10% of Michigan’s general and stabilization funds into cryptocurrency while enforcing strict security measures. Sponsored by Republican lawmakers, this initiative reflects a growing trend toward state-level Bitcoin adoption, with advocates arguing that it could inspire neighboring states, like Illinois and Ohio, to pursue similar legislation. This movement is regarded as part of a larger shift towards recognizing Bitcoin as a significant asset by local governments. Industry experts suggest that this legislation aims to safeguard taxpayer funds from inflation and advocate for municipalities to consider creating their own Bitcoin reserves. As Bitcoin maintains a significant market presence, supporters downplay concerns about timing the market. Overall, the evolving legislative landscape indicates a potential future where various states incorporate cryptocurrency into their financial strategies.

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