Michigan’s Bitcoin Bet: State Considers Strategic Crypto Reserve

Feb 14, 2025 12:00 pm Cryptocurrency 44

Key Takeaways:

Michigan joins 19 other states in proposing legislation for a strategic cryptocurrency reserve.

Under the proposed bill, the state treasurer is authorized to trade and/or loan up to 10% of some state funds for cryptocurrencies.

A Michigan representative floated the idea of “MichCoin,” a stablecoin backed by Michigan’s gold and silver reserves.

Michigan Eyes a Future in Crypto: A Deep Dive into the Proposed Bitcoin Reserve

The world of cryptocurrencies is changing at an ever-increasing pace, and it is no wonder that local governments in the United States are playing catch-up. The latest state lining up to get in on this phenomenon is Michigan. Michigan’s plan includes a bill that wou ..

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