SPRINGFIELD, IL – State Representative John M. Cabello (R-Machesney Park) has introduced House Bill 1844 (HB1844), a measure to establish a Strategic Bitcoin reserve for the State of Illinois. This initiative attempts to position Illinois at the forefront of financial innovation by leveraging Bitcoin as a long-term savings technology.
“Illinois has a history of reckless spending and budget mismanagement,” said Rep. Cabello. “It’s time for smart financial planning that actually benefits taxpayers. A Bitcoin reserve gives Illinois a hedge against inflation through a modern financial asset that can grow in value over time.”
The bill creates a special fund in the state treasury exclusively for Bitcoin, requiring a minimum five-year holding period to ensure long-term stability and growth. However, the measure also allows for the transfer, sale, or conversion of Bitcoin after the holding period, giving the state flexibility in managing its digital assets.
“With states like Texas and Wyoming leading the way in Bitcoin adoption, Illinois must modernize its approach to financial security,” Cabello continued. “It is my hope that through this proposal we can position Illinois for the future and make sure our financial system finally works for the taxpayer.”
HB1844 is now under consideration in the 104th General Assembly.
For further details or inquiries, please contact Representative Cabello at 815-621-2196.
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John M. Cabello is the Assistant Minority Leader and State Representative for Illinois’ 90th House District, which includes the following communities in Winnebago, Stephenson, and Boone counties: Rockford, Machesney Park, Freeport, Roscoe, Loves Park, Rockton, South Beloit, Caledonia, Durand, Rock City, and Rockton.