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The bill proposes allowing the state treasury to invest up to 10% of its reserves in bitcoin and potentially other cryptocurrencies.
By Omkar Godbole, AI Boost|Edited by Sheldon Reback
Sep 19, 2025, 7:49 a.m.
- Michigan’s Bitcoin Reserve Bill, HB 4807, advanced to a second reading in the state House of Representatives after seven months of inactivity.
- The bill proposes allowing the state treasury to invest up to 10% of its reserves in bitcoin and potentially other cryptocurrencies
After seven months of inactivity, Michigan’s Bitcoin Reserve Bill, HB 4087, made progress Thursday by advancing to the second reading in the state House of Representatives.
The bill, introduced in February, aims to establish a strategic bitcoin BTC$116,942.05 reserve by authorizing the state treasury to invest up to 10% of its reserves in the largest cryptocurrency and possibly others. It has now been referred to the Committee on Government Operations.
STORY CONTINUES BELOW
If approved, Michigan would join the three states — Texas, New Hampshire and Arizona — that have enacted bitcoin reserve laws. While Texas allocated $10 million to purchase BTC in June, the other two have yet to fund the reserve with state money.
Recently, the U.S. House directed the Treasury Department to study the feasibility and governance of a strategic bitcoin reserve, including key areas such as custody, cybersecurity and accounting standards.
Sovereign adoption of bitcoin has emerged as one of the defining trends of 2025, with several U.S. states and countries considering or implementing BTC reserves as part of their public finance strategy. That’s in addition to the growing corporate adoption of bitcoin in company treasuries.
This institutional embrace has contributed to a significant boost in bitcoin’s market valuation. The BTC price has increased 25% this year, and touched a record high near $124,500 in August, CoinDesk data show.
Despite the enthusiasm, skeptics remain concerned about the risks posed by bitcoin’s notorious price volatility.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Senator Elizabeth Warren and colleagues asked the attorney general what’s up with Binance and reports of U.S. talks over its enforcement compliance.
What to know:
- Democratic U.S. lawmakers, including Senator Elizabeth Warren, questioned Attorney General Pam Bondi about what’s going on with Binance’s ongoing enforcement order.
- The senators sent a letter that also referenced President Donald Trump’s own financial connection to Binance.
