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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 lawmakers’ approval.
Illinois’ Bitcoin bill follows recent moves by Arizona and Texas, states that advanced their own Bitcoin reserve legislation, emphasizing the growing momentum for crypto adoption in state finances.
Bitcoin Reserve To Pave The Way For State-by-State Integration With Traditional Finance
Mouloukou Sanoh, co-founder and CEO of MANSA, a decentralized payment network, said Illinois’ Bitcoin Act is a “step forward” for Bitcoin adoption in the U.S.
The act “aligns with President Donald Trump’s broader vision of creating a Bitcoin reserve,” Sanoh said, adding that “the decision to accept Bitcoin as a reserve asset is a bold step toward integrating cryptocurrency into traditional finance, positioning the state as a leader in blockchain innovation.”
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