Michigan’s Mad Crypto Scheme: State Treasurer to Play Digital Gold Hoarder!

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In the smoky halls where the fate of Michigan’s coffers is decided, lawmakers have bravely pushed forward a bill as mysterious and volatile as a cat in a thunderstorm. Yes, the fateful House Bill 4087 creeps from the shadows toward a second reading in the grim September of 2025 – as if the state treasury itself whispered, “Let there be crypto!”

Rumor has it (and by rumor, we mean the official reports) that this magical scroll would tweak the Michigan Management and Budget Act, birthing a “strategic crypto reserve” under the watchful eye of the illustrious state treasurer, guardian of wallets and passwords alike.

Up to 10% of State Funds to Dip Toes in Digital Madness

Imagine, if you will, that the state treasurer is allowed to gamble up to 10% of select state funds on cryptic digital assets – the financial equivalent of betting on a horse scribbled in invisible ink. These funds, noble in their names and intent – the countercyclical budget and the economic stabilization fund – shall dare the wild west of blockchain.

And lest you think this is a call to bet on Bitcoin, Ether, or some shiny new digital coin with a name the treasury can barely pronounce, the bill is cunningly vague. No currency is named! Instead, digital assets must pass a suspicious list of qualifications, like guests searching for the hidden entrance to a literary salon. Enthusiasts cheer this “diversification” as a shield against inflation’s dragons.

NEW: Michigan Strategic Bitcoin Reserve bill has shuffled forward like a cat with nine lives since last February.

HB 4087 is now on the House second reading calendar – the labyrinthine path toward either glory or oblivion.

The bill grants permission for a shrewd 10% investment from state funds.

– Bitcoin Laws (@Bitcoin_Laws) September 18, 2025

Security Measures That Sound Like Fortresses (and Then Some)

This is no toddler’s playground. Before a single digital coin may cross into government hands, the bill commands a fortress of custody protocols: private keys kept under strict government lock and key, custodians bank-approved and likely wearing suits heavy with solemnity, and the possibility of enlisting registered investment companies or exchange-traded products to carry the digital load.

Technical wizardry is mandated as well: end-to-end encryption worthy of a Kremlin conspiracy, smartphones barred from access (because who needs convenience when paranoia is at hand?), data locked in secure keeps split across geography like relics of a lost civilization, multiparty approvals stranger than a secret society’s handshake, and audits frequent enough to make even the most diligent auditor yawn in awe.

Supporters’ Argument: Diversify wisely, my friends! They claim this prudent, limited dalliance with crypto shields Michigan against the dull claws of dollar decline, while offering tantalizing glimpses of upside.

Cryptic Crypto Graph

The bill’s champions – Representatives Bryan Posthumus and Ron Robinson – unleashed this beast in February of 2025, only to be met by seven months of chilly indifference. Now, at last, it stirs like a sleepless demon. And word is, not just Michigan has flirted with such folly; a handful of other states have teetered on the same slippery slope.

The Party Poopers: Critics and Trade Groups Speak

But of course, not everyone cheers from the sidelines. The Michigan Bitcoin Trade Council sees smoke in the mirrors: no floor for market cap means our noble state treasury might end up clutching obscure, volatile tokens that jump more wildly than a startled cat on a hot tin roof.

Fearful whispers abound: even with fortress-like custody, crypto’s mood swings could send public dollars tumbling into oblivion. And then, the eternal question: who condolence calls when keys are lost? Who audits the auditors? Who pays the fiddler when the market drops like a lead balloon?

Political Tightrope and Practical Jitters

Now resting comfortably in the lap of the Committee on Government Operations, the bill awaits its grand inquisition. Should it survive the poking and prodding, Michigan might earn a curious badge – one of those few brave enough to entrust public treasure to the capricious whims of blockchain sorcery.

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2025-09-20 02:15