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According to Cointelegraph, Michigan State Representatives Bryan Posthumus and Ron Robinson submitted Bill HB 4087 on February 13, proposing amendments to the state's Management and Budget Act to establish a Bitcoin strategic reserve. The bill allows the state treasury to invest up to 10% of the general fund and the economic stabilization fund in cryptocurrencies and to hold crypto assets through secure custody solutions or registered investment company ETF products. The bill also permits the state government to generate additional revenue through cryptocurrency lending. Currently, 20 states across the U.S. have proposed similar legislation.