#Wyoming allows Bitcoin investments.#
Hot Topic Overview
Overview
Wyoming has passed legislation allowing its Permanent Fund to diversify investments into Bitcoin, making it the first U.S. state to allow state government funds to invest in Bitcoin. The bill was introduced by Wyoming Representative Jacob Wasserburger and was supported by Senator Cynthia Lummis. The bill allows the Permanent Fund to invest up to 3% of its funds in Bitcoin. Currently, seven U.S. states have introduced similar "Strategic Bitcoin Reserve" bills, but the content and implementation methods vary.
Ace Hot Topic Analysis
Analysis
Wyoming has become the first US state to allow its state government's permanent fund to invest in Bitcoin. State Representative Jacob Wasserburger introduced legislation that would allow the state's permanent fund to allocate a portion of its assets to Bitcoin, a move supported by State Senator Cynthia Lummis. The bill allows the permanent fund to invest up to 3% of its assets in Bitcoin, making Wyoming the first US state to include Bitcoin in its investment portfolio. This move is seen as a significant step forward for the United States in the realm of digital assets and has sparked similar initiatives in other states. Currently, multiple states including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and Massachusetts are considering similar legislation aimed at establishing strategic Bitcoin reserves. While the specific details and implementation of these bills vary, they 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 and hold it as part of its strategic Bitcoin reserve.
The bill allows up to 3% of the fund’s total to be invested in Bitcoin, which would make Wyoming the first state in the U.S. to include Bitcoin in its investment portfolio.
Other states are also considering similar legislation, such as Oklahoma, New Hampshire, Texas, Pennsylvania and Ohio.
Some argue that including Bitcoin in a state’s reserve will help to protect the state from inflation and provide a new investment opportunity for the state.