PANews reported on January 30 that Illinois became the latest state in the United States to promote a Bitcoin strategic reserve bill. The HB1844 bill proposed by state representative John Cabello proposed the creation of a "Bitcoin Strategic Reserve Fund" as a special fund of the state treasury to hold Bitcoin as a financial asset.
According to the bill, the state treasury must hold bitcoin for at least five years, after which it can choose to transfer, sell or convert it into other cryptocurrencies. The bill was submitted to the Rules Committee on January 29, awaiting further regulatory details and legislative approval.
It is worth noting that Illinois' move comes on the heels of the Arizona Senate's advancement of Bitcoin reserve legislation, which seeks to allow public funds and pensions to invest in Bitcoin. MANSA co-founder and CEO Mouloukou Sanoh said the move is an important step in the popularization of Bitcoin in the United States and may inspire more states to follow suit, but nationwide approval still requires time and regulatory clarity. In addition, Texas has also included Bitcoin reserves in its 2025 legislative priorities.