On September 19th (UTC+8), the state of Michigan, in the USA, took a step forward with bill HB 4087. The proposal requires the state treasury to allocate up to 10% of the available funds in Bitcoin, serving as a strategic reserve.
This is the first time a bill in the USA explicitly proposes the inclusion of Bitcoin in a state's treasury reserves. The proposal has already passed the committee phase in the House and will now be submitted for consideration by the full chamber.
If the bill is approved, those responsible for the state's finances will be able to acquire Bitcoin through qualified custodians or exchange-traded products. They will also have to follow requirements for secure custody, governance, and auditing.
