Michigan Proposes Bill to Establish a Bitcoin Reserve
On February 13, 2025, Congressmen Bryan Posthumus and Ron Robinson introduced HB 4087, aiming to amend Michigan’s Management and Budget Act to create a strategic Bitcoin reserve for the state government.
This bill authorizes the Michigan Secretary of the Treasury to invest up to 10% of funds from the general and economic stabilization funds in cryptocurrencies, without specifying or limiting the types of cryptocurrencies that can be acquired.
The bill also allows for cryptocurrency lending, provided it does not increase financial risks, enabling the Secretary of the Treasury to generate additional returns.
Additionally, Posthumus announced plans to launch a stablecoin named “MichCoin,” which will be backed by gold and silver reserves to enhance its intrinsic value.
