TechFlow news, on February 14, according to Cointelegraph, Michigan state representatives Bryan Posthumus and Ron Robinson introduced Bill HB 4087 on February 13, proposing amendments to the state's Management and Budget Act to establish a strategic bitcoin reserve.
The bill would allow the state treasury to invest in cryptocurrencies from the general fund and economic stability fund, up to a maximum of 10%, and hold digital assets through secure custody solutions or ETF products offered by registered investment companies. The legislation also permits the state government to generate additional returns through cryptocurrency lending. Currently, similar bills have been proposed in 20 states across the U.S.
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