Michigan Lawmakers Propose Bitcoin Reserve Investment Plan for State Treasury

Description

A new legislative proposal in Michigan seeks to create a Bitcoin reserve as part of the state’s financial strategy. On February 13, Representatives Bryan Posthumus and Ron Robinson put forward HB 4087, a bill designed to update the state’s Management and Budget Act by incorporating Bitcoin investments. With this, Michigan now joins 19 other states in the US that have introduced or are deliberating similar cryptocurrency investment policies, with final legislative approval still pending. Michigan...