The U.S. state of Illinois has introduced a new bill that considers Bitcoin as a strategic reserve asset. House Representative John Cabello has proposed Bill 1844, which suggests holding Bitcoin as a financial asset within the state treasury.
According to the bill, Bitcoin assets included in the state treasury will be held for at least five years. The legislation states that the Treasury Department will not liquidate these Bitcoin holdings during this period. However, after five years, the state will have the authority to sell, convert, or use them for public expenditures.
Illinois’ move is part of a growing trend among U.S. states to consider Bitcoin as a reserve asset. Recently, the Arizona Senate introduced legislation to allocate public funds and pension investments into Bitcoin. Similarly, Texas, Utah, and several other states have started evaluating Bitcoin as a long-term store of value for their official reserves.
As of January 29, the Illinois bill has been referred to the Legislative Committee, with the final approval process still underway. If passed, Illinois could become one of the first states to officially hold Bitcoin in its treasury reserves.
