The Michigan House of Representatives has introduced Bill 4087, which proposes investing up to 10% of the general and economic stabilization funds in cryptocurrencies.
The document also includes an option for lending in digital assets without increasing financial risk to generate additional revenue.
One of the authors, Brian Posthumus, expressed the state’s ambition to become a leader in cryptocurrency policy by creating a Strategic Bitcoin Reserve (SBR).
Michigan can and should join Texas in leading on crypto policy by signing into law my bill creating the Michigan Crypto Strategic Reserve. https://t.co/x2Yke3uWTn
— Rep. Bryan Posthumus (@posthumus_bryan) February 13, 2025
Michigan has joined 20 other states considering similar initiatives.
VanEck has estimated that the adoption of such bills could create additional demand for bitcoin amounting to 242,787 BTC ($23.5 billion). This estimate is conservative, as it does not include potential investments from pension funds.
In January, Donald Trump announced the formation of a task force on digital assets led by special advisor on AI and cryptocurrencies David Sacks.
One of the group’s tasks is to assess the prospects of implementing an SBR. In a recent interview, the official confirmed they are “exploring” the issue.
The largest publicly traded miner by market capitalization, MARA Holdings, has joined the lobbying effort to create bitcoin reserves at the federal level and in all 50 states.
Dennis Porter, CEO of Satoshi Action Fund, believes Utah could become the first U.S. state to approve an SBR bill.
In December, VanEck calculated that the establishment of a strategic bitcoin reserve could help the U.S. reduce its national debt by 35% by 2050. They predict that by 2049, digital gold will rise to $42.3 million, showing a CAGR of 25%.
MicroStrategy founder Michael Saylor estimated the impact of an SBR on the U.S. at $81 trillion.
According to Sygnum’s calculations, purchasing the first cryptocurrency for a national bitcoin reserve worth $1 billion would lead to a $20 billion increase in the asset’s market capitalization.
Previously, analyst Thomas Farrer predicted a $50,000 increase in digital gold prices per minute once U.S. authorities confirm the creation of an SBR.