Illinois’ HB1844 bill proposes a state-run Bitcoin reserve with a mandatory five-year holding period before allowing conversions or sales.
Illinois became the latest US state to advance a Bitcoin strategic reserve bill, seeking to deploy the world’s first cryptocurrency as a financial savings technology.
Introduced by Illinois State Representative John Cabello, House Bill 1844 (HB1844 ) proposes the creation of a strategic Bitcoin (BTC) reserve as a “special fund in the state treasury for the purpose of holding Bitcoin as a financial asset.”
Screenshot of HB1844 bill. Source: Ilga.gov
Read more,# Illinois Proposes Bitcoin Reserve: A Five-Year Wait to Get Your Crypto Kringle!
## Key Points:
– Illinois is considering HB1844, making it the latest state to hop on the Bitcoin bandwagon.
– The bill proposes a state-run Bitcoin reserve, fancying Bitcoin as a “special fund”—because everyone needs a tax break on their digital gold.
– Introduced by Rep. John Cabello, the plan includes a mandatory five-year holding period before anyone can convert or sell. That’s right, nobody’s touching those shiny coins for half a decade—it’s like the world’s longest crypto lock-up party!
## Hot Take:
So, it seems Illinois wants to snatch up some Bitcoin and squirrel it away like a crypto-savvy squirrel anticipating a winter shortage of acorns! With a five-year commitment, let’s hope they don’t forget the passcode! Meanwhile, all Bitcoin holders in Illinois better grab their reclining chairs, because waiting five years for a sell is going to need some serious patience. Keep hustling, but don’t say we didn’t warn you about the long game! #Bitcoin #Illinois #CryptoHolding #FiveYearPlan #SquirrelLife
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