Illinois has become the latest state to propose a Bitcoin reserve, joining a growing list of states advancing similar bills. State Representative John Cabello has introduced House Bill 1844 (HB1844) which would establish a Strategic Bitcoin Reserve Fund under the state treasury. If passed, the Illinois State Treasurer would manage the fund, and all Bitcoin deposits would be held for at least five years before the state could transfer, sell, or convert any Bitcoin to another cryptocurrency. The number of state-level Bitcoin reserve proposals has grown since President Donald Trump returned to the White House, with at least six states introducing or advancing similar bills in January alone.

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