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 lawmake...