The Michigan Bitcoin reserve bill (House Bill 4087) moved to the Government Operations Committee after seven months, proposing the state treasurer may allocate up to 10% of general and stabilization funds into Bitcoin, with mandated custody controls, audits, and disaster‑recovery protocols.
Bill progress: House Bill 4087 advanced to the Government Operations Committee after procedural clearance.
Allocation cap: Authorizes up to 10% of general and stabilization funds for Bitcoin reserves.
Security & oversight: Requires qualified custodians, exclusive state key control, audits, and penetration testing.
Michigan Bitcoin reserve bill: House Bill 4087 advances, allowing up to 10% of state funds for Bitcoin reserves—read the latest developments and implications.
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What is the Michigan Bitcoin reserve bill (House Bill 4087)?
House Bill 4087 is legislation introduced in February that would allow the Michigan state treasurer to place up to 10% of the state’s general and stabilization funds into Bitcoin. The bill sets custody, auditing, and disaster recovery requirements to protect taxpayer assets.
How did the bill advance this week?
The bill cleared procedural steps, was placed on the House second reading calendar, and was formally referred to the Government Operations Committee after seven months of inactivity. This movement signals renewed legislative attention and a potential pathway to committee hearings.
Why do supporters argue for a state Bitcoin reserve?
Supporters say a state Bitcoin reserve can hedge against fiat devaluation and diversify state assets. Kadan Stadelmann, Chief Technology Officer at Komodo Platform, described the trend as “Hyperbitcoinization” spreading at the state level and urged municipalities to consider reserves to protect taxpayer money.
How would security and custody be handled under the bill?
The draft requires the use of a third‑party “secure custody solution” or “qualified custodian,” while the state retains exclusive control over private keys. Provisions also include regular audits, penetration testing, and disaster recovery protocols to mitigate custody risks.
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Observers say success in Michigan could pressure neighboring states such as Illinois, Ohio, and Pennsylvania to revisit stalled proposals. There are numerous pending Strategic Bitcoin Reserve bills nationwide, and recent federal activity includes a Treasury study directive on feasibility and governance.
If enacted, the bill would empower the state treasurer to buy Bitcoin up to the 10% cap; purchases would depend on treasury decisions, market conditions, and compliance with custody and audit rules described in the legislation.
Protection measures include mandated use of qualified custodians, state control over private keys, regular audits, penetration testing, and disaster recovery plans to reduce theft, loss, or mismanagement risks.
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