Illinois has joined a growing number of U.S. states that are considering using bitcoin reserves as part of their monetary plan.

House Bill 1844 ( HB1844 ), which would create a Strategic Bitcoin Reserve Fund under the state treasury, has been introduced by state representative John Cabello.

If passed, the Illinois State Treasurer would manage the bank, with all Bitcoin reserves held for a minimum of five times before the condition could” transfer, sell, appropriate, or transfer to another crypto any Bitcoin in the Fund”.

Since President Donald Trump’s returning to office, there has been a rise in state-level Bitcoin supply proposals, with at least half a dozen state advancing or introducing related charges in January only.

HB1844 allows Illinois to accept donations, offers, and gifts of Bitcoin from the condition people and governmental entities.

Illinois is one of the first states to take deliberate Bitcoin contributions into account as part of its public financing strategy.

In contrast, HB1844 mandates regular assessments and annual reports, detailing the total amount of Cryptocurrency in the bank, its U. S. money relative, and any security risks encountered.

The plan specifies stringent security measures, mandating that the funds ‘ Bitcoin be stored in cool storage, a secure, online method to stop unauthorized access.

The State Treasurer is authorized to follow rules required to handle the bank, including protocols for safe storage, deal management, and reporting standards.

After Czech National Bank Governor Ale Michl announced he would propose adding up to$ 7 billion worth of Bitcoin to the nation’s national reserves, the conversation about the national financial asset grew even more this week.

Shortly after the Czech proposal surfaced, Wyoming Senator Cynthia Lummis called for swift action from the U. S., tweeting,

” If you’re not first, you’re last. America must take decisive action to establish a” Strategic Bitcoin Reserve” and secure its position in the 21st century.

States exploring Bitcoin reserves

Illinois is far from alone in its Bitcoin ambitions.

Just one day before Illinois’s HB1844, Arizona introduced a bill that would allow investors to make investments in Bitcoin with public funds and pensions.

In his most recent proposal, Lieutenant Governor Dan Patrick has made a state Bitcoin reserve one of his 2025 legislative priorities in Texas.

Indiana’s House Bill 1322 ( HB1322 ) goes beyond reserves, directing the state to explore how blockchain technology can enhance government efficiency, data security, and consumer experience.

Additionally, the legislation permits Bitcoin ETF investments in public employee pension funds.

Several other states—including Pennsylvania, Oklahoma, North Dakota, and South Dakota—have also put forth or advanced their own Bitcoin-related proposals.

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