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HR0446 - 104th General Assembly
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| 1 | HOUSE RESOLUTION | ||||||
| 2 | WHEREAS, The members of the Illinois House of | ||||||
| 3 | Representatives wish to recognize the impact of Altgeld | ||||||
| 4 | Bitcoin Reserve (ABR) on the State of Illinois and the United | ||||||
| 5 | States; and | ||||||
| 6 | WHEREAS, Innovation, financial literacy, and community | ||||||
| 7 | empowerment are indispensable for economic growth and the | ||||||
| 8 | elimination of violence in the State of Illinois; and | ||||||
| 9 | WHEREAS, ABR, founded in Altgeld Gardens, Chicago on March | ||||||
| 10 | 6, 2025, is the first community-operated Bitcoin treasury in | ||||||
| 11 | the United States and is structured as a Wyoming DAO LLC; and | ||||||
| 12 | WHEREAS, ABR was established to promote financial | ||||||
| 13 | literacy, youth mentorship, economic growth, and financial | ||||||
| 14 | management in the State of Illinois by using a secure 2-of-3 | ||||||
| 15 | multisignature, cold storage vault to hold a growing bitcoin | ||||||
| 16 | reserve that belongs to the community; and | ||||||
| 17 | WHEREAS, Bitcoin is the first globally accepted digital | ||||||
| 18 | asset in the world, and its market size is projected to | ||||||
| 19 | increase by USD 39.75 billion at a Compound Annual Growth Rate | ||||||
| 20 | (CAGR) of 16.7% between 2024 and 2029, thereby reducing | ||||||
| 21 | national debts in the United States; and | ||||||
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| 1 | WHEREAS, Operating as a community-led initiative, ABR is | ||||||
| 2 | aimed at building long-term financial sovereignty in the State | ||||||
| 3 | of Illinois, especially for underserved Black communities | ||||||
| 4 | through Bitcoin savings, education, and decentralized | ||||||
| 5 | governance; and | ||||||
| 6 | WHEREAS, Backed by a 21-year plan, ABR protects value | ||||||
| 7 | while offering education, youth mentorship, peace incentives, | ||||||
| 8 | and future-forward support systems, including rent relief, | ||||||
| 9 | homeownership, and local entrepreneurship; and | ||||||
| 10 | WHEREAS, The Altgeld Gardens community has long | ||||||
| 11 | demonstrated resilience, creativity, and leadership in | ||||||
| 12 | advancing new models of economic development; and | ||||||
| 13 | WHEREAS, ABR serves as a model for how technology and | ||||||
| 14 | community-led governance can work together to promote lasting | ||||||
| 15 | opportunity and resilience; and | ||||||
| 16 | WHEREAS, ABR's immense contributions to financial literacy | ||||||
| 17 | and economic growth as the nation's first community-run | ||||||
| 18 | bitcoin reserve positions the State of Illinois at the | ||||||
| 19 | forefront of financial literacy and community empowerment; | ||||||
| 20 | therefore, be it | ||||||
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| 1 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE | ||||||
| 2 | HUNDRED FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 3 | we recognize Altgeld Bitcoin Reserve (ABR) as the nation's | ||||||
| 4 | first community-run Bitcoin reserve, and we commend its | ||||||
| 5 | positive impacts on the State of Illinois; and be it further | ||||||
| 6 | RESOLVED, That we commend the community of Altgeld Gardens | ||||||
| 7 | for its leadership, innovation, and dedication to financial | ||||||
| 8 | empowerment for generations to come; and be it further | ||||||
| 9 | RESOLVED, That a suitable copy of this resolution be | ||||||
| 10 | presented to the leaders of ABR as an expression of our esteem | ||||||
| 11 | and respect. | ||||||