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A new legislative proposal in Michigan seeks to create a Bitcoin reserve as part of the state’s financial strategy. On February 13, Representatives Bryan Posthumus and Ron Robinson put forward HB 4087, a bill designed to update the state’s Management and Budget Act by incorporating Bitcoin investments. With this, Michigan now joins 19 other states in the US that have introduced or are deliberating similar cryptocurrency investment policies, with final legislative approval still pending. Michigan’s HB 4087 Bill Under the newly proposed legislation in Michigan, the state treasurer would have the ability to invest in cryptocurrency using money from both the general fund and the economic stabilization fund, though the total investment cannot exceed 10%. The bill does not impose any restrictions on which types of cryptocurrencies can be acquired. Furthermore, it includes a clause permitting the state to lend its crypto assets, as long as such lending does not pose additional financial risk. The treasurer is authorized to loan these assets to generate additional returns for Michigan. To maintain security, the state must store its cryptocurrency through secure custody services or invest in exchange-traded products from regulated investment companies. Michigan’s state pension fund is already involved in cryptocurrency investments, with holdings in Bitcoin and Ether exchange-traded funds. According to a filing submitted to the US Securities and Exchange Commission (SEC) in November, the State of Michigan Retirement System reported owning 460,000 shares of the Grayscale Ethereum Trust, along with an equal number of shares in the asset manager’s Ethereum Mini Trust. US State Strategic Bitcoin Reserves Several US states have proposed strategic Bitcoin reserve bills which are expected to potentially drive $23 billion in BTC purchases, according to VanEck’s Matthew Sigel. This figure excludes pension fund allocations and could rise if legislation advances. Currently, 20 states have proposed crypto reserve bills, with Arizona and Utah progressing further. Texas recently introduced a new Bitcoin investment bill, while Montana, Ohio, Florida, and others have proposed similar legislation. North Dakota is the only state to have rejected such a proposal. The post Michigan Lawmakers Propose Bitcoin Reserve Investment Plan for State Treasury appeared first on CryptoPotato.

Before the big bull market comes, the representative coins of each major sector must be clear. If you don’t know what to buy, then look at the leading coins in the sector. 1. MEME board DOGE, SHIB, PEPE, FLOKI, BONK 2. AI board AGIX, WLD, FET, AI, NMR 3. Public chain board ETH, SOL, MATIC, FTM, ADA, AVAX, DOT, ATOM 4. LAYER2 board OP, ARB, METIS, IMX, MANTA, EGLD, MNT 5. 2024 halving board BCH, BSV, ZEC, ZEN, BTG, BHC, LTC 6. GAMEFI board SAND, MANA, GALA, ENJ, RON, PIXEL, ACE, ILV, MAGIC, YGG 7. Oracle sector TRB, LINK, API3, TRB, BAND 8. Payment concept sector MOB, ACH, XLM, CELO 9. Inscription sector ORDI, SATS, RATS 10. Storage sector AR, FIL, STORJ, BLZ 11. DEFI sector AAVE, COMP, RDNT, CRV, MKR, AVAX, DYDX 12. NFT sector BLUR, DYDX, LOOKS, DEGO 13. Modular sector TIA, MANTA, DYM, ALT, 14. Sports sector CHZ, SANTOS, POR, CITY, OG Hold on after you have chosen. As long as you hold on, there will definitely be a return in one cycle, and no one can cut you off. Remember not to be indecisive.

Before the big bull market comes, the representative coins of each major sector must be clear. If you don’t know what to buy, then look at the leading coins in the sector. 1. MEME board DOGE, SHIB, PEPE, FLOKI, BONK 2. AI board AGIX, WLD, FET, AI, NMR 3. Public chain board ETH, SOL, MATIC, FTM, ADA, AVAX, DOT, ATOM 4. LAYER2 board OP, ARB, METIS, IMX, MANTA, EGLD, MNT 5. 2024 halving board BCH, BSV, ZEC, ZEN, BTG, BHC, LTC 6. GAMEFI board SAND, MANA, GALA, ENJ, RON, PIXEL, ACE, ILV, MAGIC, YGG 7. Oracle sector TRB, LINK, API3, TRB, BAND 8. Payment concept sector MOB, ACH, XLM, CELO 9. Inscription sector ORDI, SATS, RATS 10. Storage sector AR, FIL, STORJ, BLZ 11. DEFI sector AAVE, COMP, RDNT, CRV, MKR, AVAX, DYDX 12. NFT sector BLUR, DYDX, LOOKS, DEGO 13. Modular sector TIA, MANTA, DYM, ALT, 14. Sports sector CHZ, SANTOS, POR, CITY, OG Hold on after you have chosen. As long as you hold on, there will definitely be a return in one cycle, and no one can cut you off. Remember not to be indecisive.

no volume mean dump once a whale like me.sell

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