Illinois To Establish A Bitcoin Reserve With 5-Year Holding Period

Illinois
has
introduced
a
bill
proposing
a
state-run
Bitcoin
reserve
with
a
mandatory
five-year
holding
period,
joining
a
growing
number
of
states
exploring
crypto
treasury
strategies.

State
Representative
John
Cabello
proposed


Illinois
House
Bill
1844
(HB1844),
which
calls
for
establishing
a
strategic
reserve
fund
to
hold
Bitcoin
as
a
“special
fund
in
the
state
treasury
for
the
purpose
of
holding
Bitcoin
as
a
financial
asset.”

????
NEW:
Illinois
Strategic
Bitcoin
Reserve
Bill!

HB1844
would
create
a
Bitcoin
Reserve,
and
require
a
minimum
HODL
period
of
5
years
for
all
BTC.

pic.twitter.com/6rZP8f2oU1

—
Julian
Fahrer
(@Julian__Fahrer)

January
29,
2025

Once
the
five-year
holding
period
concludes,
the
state
treasury
would
be
allowed
to
“transfer,
sell,
appropriate,
or
convert
to
another
cryptocurrency
any
Bitcoin
in
the
Fund,”
the
bill
says.

The
bill
was
sent
to
the
Rules
Committee
on
January
29
to
finalize
the
regulatory
details
and
await
lawmakers’
approval.

Illinois’
Bitcoin
bill
follows
recent
moves
by
Arizona
and
Texas,
states
that
advanced
their
own
Bitcoin
reserve
legislation,
emphasizing
the
growing
momentum
for
crypto
adoption
in
state
finances.

Bitcoin
Reserve
To
Pave
The
Way
For
State-by-State
Integration
With
Traditional
Finance

Mouloukou
Sanoh,
co-founder
and
CEO
of
MANSA,
a
decentralized
payment
network,
said
Illinois’
Bitcoin
Act
is
a
“step
forward”
for
Bitcoin
adoption
in
the
U.S.

The
act
“aligns
with
President
Donald
Trump’s
broader
vision
of
creating
a
Bitcoin
reserve,”
Sanoh
said,
adding
that
“the
decision
to
accept
Bitcoin
as
a
reserve
asset
is
a
bold
step
toward
integrating
cryptocurrency
into
traditional
finance,
positioning
the
state
as
a
leader
in
blockchain
innovation.”

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