#Wyoming allows funds to invest in Bitcoin.#
Hot Topic Overview
Overview
Currently, multiple states in the United States are pushing to include Bitcoin in their strategic reserves. Wyoming has taken the lead by passing legislation allowing its permanent fund to diversify its investments into Bitcoin, with a proportion of no more than 3% of the fund's total assets. Other states, such as Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and North Dakota, have also proposed similar proposals, but the specific terms and implementation methods differ. Massachusetts has also joined the ranks, with Senator Peter Durant introducing a bill to establish a Bitcoin strategic reserve. These proposals reflect the recognition and investment intentions of some states in the United States toward digital assets, and they also signal that Bitcoin could potentially become part of the strategic reserves of more countries in the future.
Ace Hot Topic Analysis
Analysis
Wyoming has become the first U.S. state to allow its permanent fund to invest in Bitcoin. The state's Senator Cynthia Lummis said the state has passed legislation allowing the permanent fund to diversify its holdings into Bitcoin. The bill allows the use of state funds to purchase Bitcoin, but limits it to 3% of the fund's total. This move marks a significant step for the U.S. in the digital asset space and signals a growing acceptance of Bitcoin as a viable investment asset. Currently, seven U.S. states have proposed similar “strategic Bitcoin reserve” bills, with varying content and implementation methods, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and North Dakota. These state legislative proposals indicate that U.S. state governments are actively exploring the possibility of including Bitcoin in their investment portfolios, aiming to benefit from the rapid growth of digital assets.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wyoming allows its permanent fund to invest in Bitcoin, putting the state at the forefront of financial innovation.
Wyoming's legislation allows the permanent fund to invest in Bitcoin, but limits it to 3% of the fund's total.
Several states are proposing similar legislation that would allow state governments to invest in Bitcoin, but the specific terms and implementation vary.
The Bitcoin Strategic Reserve Act is gaining support in multiple states across the U.S. and is progressing through the legislative process.