In today's crypto news, Illinois has proposed House Bill 1844 (HB1844) to establish a state-run Bitcoin reserve, requiring a minimum five-year holding period before any conversions or sales. The bill aims to treat Bitcoin as a financial asset within a special fund managed by the State Treasurer. Meanwhile, Tesla announced a $600 million gain from its Bitcoin holdings in Q4 2024, thanks to a new accounting rule that allows the company to report the estimated market value of its crypto assets. Tesla's Bitcoin holdings rose to over $1 billion, a significant increase from prior valuations. Additionally, former President Donald Trump expanded the utility of his memecoin, the Official Trump (TRUMP) token, allowing purchases of various merchandise using both TRUMP and Bitcoin. This represents a notable shift in Trump's relationship with cryptocurrency, as he had previously been skeptical about its value.

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