Michigan is making headlines by reintroducing HB 4087, a bold proposal to include cryptocurrency in public funds. After seven months of committee discussion and revisions, the bill has just been brought to a second reading in the House of Representatives, marking a significant step forward in the effort to legitimize public investment in crypto.
According to the US legislative process, a bill must pass three readings in the House of Representatives before moving to the Senate for consideration. If passed, the document will be submitted to the Governor for signature to officially become law. With the content of the proposal to allow the state of Michigan to invest 10% of public funds in cryptocurrencies, this bill is of particular interest to the financial community and investors.
Before Michigan, only three states in the US had successfully passed similar bills, including Arizona, New Hampshire and Texas. These states have taken the lead in applying crypto to the public financial management system, considering it a revolutionary step to adapt to global financial trends.
Notably, the return of HB 4087 comes as President Donald Trump has repeatedly expressed his strong support for Bitcoin. The Trump administration is pushing a series of policies aimed at making the US a global hub for blockchain technology and digital assets, which has in turn created more incentives for states like Michigan to boldly experiment with new legal frameworks.
The Michigan story also echoes that of Texas – a state that controversially allowed local governments to mine Bitcoin directly from renewable energy sources. Despite initial criticism of the financial risks, Texas is now proving to be a long-term benefit as investment Capital flows in, while also cementing its position as the largest crypto mining center in the US.
For Michigan, if HB 4087 is successful, it will be a strong signal that cryptocurrencies are no longer just a “speculative asset” but are gradually becoming part of the public financial management strategy of US states. This could open a new era where Bitcoin and crypto play a Vai not only in personal investment but also in the sustainable development of the US economy.
