Illinois is poised to potentially become the first US state to incorporate Bitcoin into its fiscal reserves through a newly proposed Strategic Bitcoin Reserve. The initiative entrusts the State Treasurer with management responsibilities, including accepting Bitcoin gifts and donations. Notably, there is a stipulation for a five-year minimum holding period for all Bitcoin acquired under this plan.
The proposal, officially referred to the Rules Committee on January 29, 2025, is undergoing a fast-tracked approval process. This legislative move aligns with global trends, as exemplified by the Czech National Bank's consideration of a 5% allocation in Bitcoin.
