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Michigan has become the latest state to push for a Bitcoin reserve, joining 19 others in advancing crypto-related legislation. Lawmakers Bryan Posthumus and Ron Robinson introduced HB 4087 to establish a strategic Bitcoin reserve under the state’s Management and Budget Act. This bill would allow Michigan’s treasurer to invest in cryptocurrency using up to 10% of the general and economic stabilization funds, with no restrictions on which digital assets can be included.
Representative Posthumus urged Michigan to take a leadership role in crypto policy, following Texas’ recent efforts. The bill also includes provisions for lending cryptocurrency, aiming to generate additional returns without increasing financial risk. The state would be required to store digital assets securely through regulated custodians or exchange-traded products.
Posthumus also proposed “MichCoin,” a potential stablecoin backed by gold and silver reserves. With growing interest from multiple states, Michigan’s move signals increasing recognition of Bitcoin and cryptocurrency as viable financial assets for state reserves.
