#Wyoming allows permanent fund investment in Bitcoin.#
Hot Topic Overview
Overview
Wyoming has passed legislation allowing its Permanent Fund to diversify investments into Bitcoin. The bill, introduced by Rep. Jacob Wasserburger, permits the state to allocate no more than 3% of the Permanent Fund to Bitcoin. This move is the latest development in states across the U.S. establishing strategic Bitcoin reserves, with several states including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts considering or having introduced similar bills. These bills vary in their contents and implementation methods but reflect the growing interest in digital asset investment across U.S. states.
Ace Hot Topic Analysis
Analysis
Wyoming has become the first US state to allow its permanent fund to invest in Bitcoin. State Representative Jacob Wasserburger introduced legislation that allows the state's permanent fund to diversify its holdings into Bitcoin, a bill that was supported by Senator Cynthia Lummis. The bill allows the permanent fund to allocate no more than 3% of its funds to Bitcoin, which is seen as the state's first step toward building a strategic Bitcoin reserve. Currently, seven US states have proposed similar "strategic Bitcoin reserve" bills, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts. These bills vary in their content and implementation, but all reflect the growing interest in digital assets among US states.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wyoming allows its permanent fund to invest in Bitcoin, making it the first state in the US to allow such investments, putting the state at the forefront of financial innovation.
Wyoming's legislation allows the permanent fund to invest no more than 3% of its funds in Bitcoin, indicating the state's cautious approach to digital assets.
Multiple states are considering similar legislation allowing state governments to invest in Bitcoin, indicating a rising interest in digital assets.
Some believe that incorporating Bitcoin into state government portfolios would help protect its value and provide a stable investment source for the future.