Catenaa, Sunday, September 28, 2025- Michigan lawmakers have revived a bill that would allow the state to invest up to 10% of its general and stabilization funds into Bitcoin and other cryptocurrencies, signaling a renewed push to join US states embracing digital asset reserves.
House Bill 4087, introduced by Republican Representatives Bryan Posthumus and Ron Robinson, was formally referred to the Government Operations Committee on Thursday after clearing procedural hurdles.
If passed, the legislation would position Michigan alongside states such as Texas, New Hampshire, and Arizona, which are exploring Bitcoin as a strategic reserve and hedge against inflation.
Critics have cautioned that with Bitcoin trading near $117,000, the state could risk entering the market at a peak. The bill’s progress may also spur other states, including Illinois, Ohio, and Pennsylvania, to revisit similar initiatives.
Globally, strategic Bitcoin reserves are gaining traction. Pakistan announced plans in May to establish a government-led reserve backed by dedicated energy for Bitcoin mining and AI data centers, while the Philippines is pursuing a 20-year locked Bitcoin reserve.
El Salvador, already a Bitcoin-legal tender nation, is reportedly adding gold to its reserves.
Meanwhile, corporate Bitcoin treasury trends reveal growing volatility. K33 Research reports that one in four Bitcoin-holding public companies now trade below the value of their BTC reserves, reflecting investor caution.
Although large firms like MicroStrategy maintain premiums, overall NAV multiples have declined from 3.76 in April to 2.8, slowing accumulation. Analysts say spot ETFs and retail investors are increasingly driving market demand.
