Michigan’s state retirement fund has become the 2nd state fund (following Wisconsin) to invest a portion of it’s employees’ retirement funds into Bitcoin, via an ETF. Their allocation amounts to 4.6% of the fund’s assets, which is a truly meaningful allocation (mirroring what many financial advisors are now beginning to advise clients). There have been numerous efforts of outreach to Michigan’s lawmakers over recent years. Proposals have ranged from utilizing the Michigan budget surpluses to hold Bitcoin as a strategic reserve asset, to laws protecting individual rights and freedoms around holding and using Bitcoin.
Michigan continues to be a leader state in Bitcoin-related initiatives. From its large number of Bitcoin meetups & events, to its circular economic initiatives, Michigan is quickly becoming the nation’s leader in bitcoin adoption.
