After seven months of inactivity, the Michigan Bitcoin reserve bill, HB 4087, progressed Thursday, going second reading to the House of State Representatives.
The bill, presented in February, aims to establish a strategic bitcoin Reserve by authorizing the State Treasury to invest up to 10% of its reserves in the largest cryptocurrency and perhaps others. It has now been referred to the government operations committee.
If it is approved, Michigan would join the three states – Texas, New Hampshire and Arizona – which promulgated laws on the Bitcoin reserve. While Texas allocated $ 10 million to buy BTC in June, the other two have not yet financed the reserve with state money.
Recently, the US House has ordered the Treasury Department to study the feasibility and governance of a Bitcoin Strategic Reserve, including key areas such as custody, cybersecurity and accounting standards.
The sovereign adoption of Bitcoin has become one of the decisive trends of 2025, several American states and countries considering or implementing the reserves of the BTC within the framework of their public financing strategy. This is added to the growing adoption of Bitcoin companies in business treasures.
This institutional adoption has contributed to a significant increase in the evaluation of the Bitcoin market. The BTC price increased by 25% this year and reached a record summit nearly $ 124,500 in August, according to Coindesk data.
Despite enthusiasm, skeptics remain concerned about the risks posed by the notorious volatility of Bitcoin prices.
