On January 30, 2025, Illinois became the latest state to advance a Bitcoin strategic reserve bill, introduced by State Representative John Cabello. House Bill 1844 proposes the establishment of a special fund in the state treasury to hold Bitcoin as a financial asset.
The bill mandates a minimum five-year holding period for Bitcoin after its deposit into the fund, allowing the state treasury to transfer or convert the Bitcoin only after this period. This legislative move follows a similar advancement in Arizona, highlighting a growing trend among U.S. states to integrate Bitcoin into public finance.
Mouloukou Sanoh, co-founder of MANSA, described the initiative as a significant step toward traditional finance integration, aligning with broader national discussions on cryptocurrency reserves. However, he noted that nationwide approval may be slow, with a likely focus on state-by-state experimentation.