On February 13, a new bill (HB 4087It was presented in Michigan, which paves the way for the first investment plan in the state. Representatives, Brian Potomos and Ron Robinson, presented the bill to update the financial laws of the state and integrate cryptocurrencies into their investment strategy. This step is an important milestone, as Michigan is now joining an increasing number of the United States that legally addresses dealing with digital assets.
Details of the bill
The draft law provides Michigan’s treasurer to invest public funds in encrypted currencies, using both the General Fund and the Economic Stability Fund. However, the total investment in digital currencies cannot exceed 10 % of the total value of the fund. It is worth noting that the draft law does not impose specific restrictions on the choice of cryptocurrencies, which means that bitcoin, as well as other digital currencies, can be included in the state portfolio.
In addition, the draft law allows the state to lend to its encrypted shelves, which can generate additional income, as long as the state’s financial risks have not been presented. To ensure the integrity of these investments, cryptocurrencies must be stored through reliable services or investing in products organizing exchange.
The impact of the draft law on Michigan state
The draft law has the possibility of influencing the financial scene of Michigan. The state has already enjoys experience in cryptocurrencies, especially through the pension fund, which carries shares in Bitcoin and Ether boxes. This initiative was not able to put the state only to benefit from the growth of digital currencies, but also creates new revenue opportunities for Michigan, especially if the encryption markets continue to expand.
A look at other countries
Michigan joins an increasing number of the United States, which views cryptocurrencies as a potential element in its financial strategies. Indeed, 19 other states have made proposals similar to the investment of encryption or consider such legislative initiatives. The states like Texas have already passed concrete laws that open the way for the strategic bitcoin reserves, while Arizona and Utah are pioneers in this field.
According to Matthew Sitel from VANECK, the draft law can lead to billions of dollars in Bitcoin investments, as many countries combined aspire to buy up to $ 23 billion from Bitcoin. It is worth noting that these numbers can rise more with more countries with similar legislative proposals:
We analyzed 20 Bitcoin reserves at the state level.
If a year, they can lead 23 billion dollars in purchase, or 247 thousand BTC.
This amount is independent of any allocations for pension funds, it is likely that it will rise if legislators move forward. pic.twitter.com/5aznkiwtzf– Matthew Sigge, CFA Restore (Matthew_sgel) February 12, 2025
conclusion
Bitcoin’s investment plan in Michigan clearly shows that cryptocurrencies are increasingly considered a long -term element in the financial strategies of the state. By offering such a bill, Michigan was not only able to take advantage of the potential profits of encrypted investments, but also put herself as a leader in the world of digital currencies.
Michigan – on the map! https://t.co/krhzpppqc6 pic.twitter.com/13PMCAns7
Bitcoin Laws (Pitcoin_laws) February 13, 2025
West Fergina:
Western Virginia – on the map! https://t.co/gmjhaojel1 pic.twitter.com/fouiitmdrp
Bitcoin Laws (Pitcoin_laws) February 14, 2025
Georgia:
Georgia – on the map! https://t.co/uxfulllxh9 pic.twitter.com/z46iydqyw0
Bitcoin Laws (Pitcoin_laws) February 14, 2025
The US map is slowly, but steadily turns orange:
By popular demand: “SBR” by default.
Click to Toggy to view all Bitcoin bills in the country! https://t.co/4knyxyqv0z pic.twitter.com/hwvPPYLV8A
Bitcoin Laws (Pitcoin_laws) February 4, 2025
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