{"id":10527,"date":"2025-01-30T15:49:55","date_gmt":"2025-01-30T15:49:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10527"},"modified":"2025-01-30T15:49:55","modified_gmt":"2025-01-30T15:49:55","slug":"illinois-poised-to-lead-us-with-first-ever-bitcoin-reserve","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10527","title":{"rendered":"Illinois Poised To Lead US With First-Ever Bitcoin Reserve"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Illinois is on the verge of becoming the first US state to establish a Bitcoin Reserve as part of its fiscal strategy.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The proposed legislation, known as the Strategic <a href=\"http:\/\/%5Bcoin-widget%20coin_id=%E2%80%9Cbtc-bitcoin%E2%80%9D%5D\/\" target=\"_blank\" rel=\"nofollow\">BTC<\/a> Reserve Act, was <a href=\"https:\/\/www.ilga.gov\/legislation\/104\/HB\/10400HB1844.htm\" target=\"_blank\" rel=\"nofollow\">introduced<\/a> by Illinois State Representative John Cabello and referred to the Rules Committee on 29 January 2025.<\/span><\/p>\n<p><span style=\"font-weight: 400\">If approved, Illinois would become the first state to integrate crypto into state-level fiscal policy. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING : <\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> U.S. STATE ILLINOIS PROPOSES <br \/>BITCOIN RESERVE WITH 5-YEAR <br \/>HODL MANDATE UNDER HB1844.<\/p>\n<p>BITCOIN FOMO IS REAL !!! <a href=\"https:\/\/t.co\/5x7YhFjH9u\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/5x7YhFjH9u<\/a><\/p>\n<p>\u2014 Ash Crypto (@Ashcryptoreal) <a href=\"https:\/\/twitter.com\/Ashcryptoreal\/status\/1884926580679434609?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">January 30, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Illinois\u2019 HB1844 Bill Proposes A State-Run Bitcoin Reserve<\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-199102\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-30-151612-753x1024.png\" alt=\"\" width=\"531\" height=\"722\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-30-151612-753x1024.png 753w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-30-151612-221x300.png 221w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-30-151612-768x1044.png 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-30-151612-37x50.png 37w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-30-151612.png 850w\" sizes=\"(max-width: 531px) 100vw, 531px\"><\/p>\n<p><span style=\"font-weight: 400\">Illinois\u2019 HB1844 bill provides that the State Treasurer may accept gifts, grants, and donations of bitcoin from Illinois residents and governmental entities for deposit into the Fund.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The bill also allows the State Treasurer to transfer, sell, appropriate, or convert to another cryptocurrency any bitcoin in the Fund.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Illinois is not the only state racing for a BTC reserve. Texas also introduced a new bill to establish a strategic BTC reserve. The legislation proposes that the state accept Bitcoin payments for taxes, fees, and donations, with the collected BTC held in reserve for at least<\/span><span data-preserver-spaces=\"true\">\u00a0five years.<\/span><\/p>\n<p>\u201cA strategic Bitcoin reserve, investing in Bitcoin, would be a win-win for the state,\u201d said Republican State Representative Giovanni Capriglione.<\/p>\n<p>In fact, Trump anticipated Bitcoin Reserve to be on the agenda in the first few hours with a BTC executive order right after the inauguration. However, that didn\u2019t happen.<\/p>\n<p><span style=\"font-weight: 400\">Cynthia Lummis, a US Senator and vocal advocate for Bitcoin, has been pushing for a national Strategic BTC Reserve.<\/span><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/czech-republic-explores-creating-a-bitcoin-reserve-time-to-buy-even-more-altcoins-and-meme-coins\/\" rel=\"bookmark\">Czechia Considers Bitcoin Reserve: Time To Buy Even More Altcoins and Meme Coins?<\/a><\/strong><\/p>\n<h2>Czechia, Switzerland Among Other Countries Considering BTC Reserve<\/h2>\n<p>Czech crypto plans could see Czechia BTC reserve established before the USA. <span data-preserver-spaces=\"true\">Ale\u0161 Michl, the governor of the Czech National Bank (CNB),\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/fortune.com\/europe\/2025\/01\/29\/czech-central-bank-chief-country-buy-billions-dollars-bitcoin-trump-guys-bubble\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">proposed<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0allocating a portion of the country\u2019s reserves to Bitcoin. He wants the\u00a0<\/span><span data-preserver-spaces=\"true\">country<\/span><span data-preserver-spaces=\"true\"> to invest just 5% of its $145 billion reserve in BTC as part of its diversification strategy.<\/span><\/p>\n<p>Meanwhile, the Swiss National Bank (SNB) is facing increasing pressure to include <a href=\"http:\/\/%5Bcoin-widget%20coin_id=%22btc-bitcoin%22%20link=%22https\/\/99bitcoins.com\/goto\/okx\/%22%20anchor=%22Buy%20Now!%22%20target=%E2%80%9C_blank%E2%80%9D%5D\" target=\"_blank\" rel=\"nofollow noopener nofollow\">Bitcoin (BTC)<\/a>\u00a0in its foreign currency reserves.\u00a0If the initiative called\u00a0<a href=\"https:\/\/www.fedlex.admin.ch\/eli\/fga\/2024\/3277\/it#lvl_u1\" target=\"_blank\" rel=\"nofollow noopener nofollow\">\u201cFor a financially strong, sovereign and responsible Switzerland (Bitcoin Initiative)\u201d<\/a>\u00a0gathers 100,00 signatures in 18 months\u2019 time starting 31 December 2024, it will be put to public vote.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/swiss-central-bank-faces-growing-calls-to-hold-bitcoin-reserves\/\" rel=\"bookmark\">Swiss Central Bank Faces Growing Calls To Hold Bitcoin Reserves<\/a><\/strong><\/p>\n<p>Europe\u2019s French Member of Parliament (MEP), Sarah Knafo,\u00a0<a href=\"https:\/\/x.com\/knafo_sarah\/status\/1868766579841986739\" target=\"_blank\" rel=\"nofollow noopener nofollow\">voiced strong support for Bitcoin<\/a>\u00a0while opposing the European Union\u2019s plans for a digital euro.<\/p>\n<p>\u201cYes to a strategic national reserve of Bitcoin,\u201d she insisted.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/european-mp-advocates-for-bitcoin-reserve-opposes-eu-digital-euro-in-parliament\/\" rel=\"bookmark\">European MP Advocates For Bitcoin Reserve, Opposes EU Digital Euro In Parliament<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/illinois-poised-to-lead-us-with-first-ever-bitcoin-reserve\/\">Illinois Poised To Lead US With First-Ever Bitcoin Reserve<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Illinois is on the verge of becoming the first US state to establish a Bitcoin Reserve as part of its fiscal strategy.\u00a0 The proposed legislation, known as the Strategic BTC Reserve Act, was introduced by Illinois State Representative John Cabello and referred to the Rules Committee on 29 January 2025. If approved, Illinois would become [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10527","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10527"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10527\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}