#Wyoming to Invest in Bitcoin#
Hot Topic Overview
Overview
Wyoming is actively pursuing a strategy to include Bitcoin in its permanent fund. State Representative Jacob Wasserburger has proposed legislation allowing the permanent fund to invest a portion of its assets in Bitcoin. The legislation is supported by Senator Cynthia Lummis, a vocal advocate for Bitcoin. Currently, Wyoming legislation allows for up to 3% of the permanent fund to be invested in Bitcoin. Besides Wyoming, several other states in the U.S. are considering similar legislation, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and Massachusetts. The legislative proposals in these states vary, but they all reflect the growing interest in digital asset investment among U.S. states.
Ace Hot Topic Analysis
Analysis
Wyoming is actively pushing to establish a strategic Bitcoin reserve, with State Senator Cynthia Lummis stating that Wyoming has enacted legislation allowing the Permanent Fund to diversify its investments into Bitcoin. The bill allows the use of state funds to purchase Bitcoin, but limits it to 3% of the total fund. Currently, seven U.S. states have introduced bills related to "strategic Bitcoin reserves," with varying content and implementation methods. Besides Wyoming, Oklahoma and New Hampshire also allow investments in digital assets. Texas has two proposals, Pennsylvania and Ohio have proposed allowing state funds to directly invest in Bitcoin, and North Dakota has passed a resolution in support of digital asset investment. Massachusetts has also introduced a bill to establish a strategic Bitcoin reserve. The introduction of these bills indicates a growing interest in digital assets among U.S. states, and it is likely that more states will join the ranks in establishing strategic Bitcoin reserves in the future.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wyoming will allow its permanent fund to invest in bitcoin as part of its strategic bitcoin reserve.
The legislation would allow the state to invest no more than 3% of its permanent fund in bitcoin.
This move is the latest example of states across the US exploring the inclusion of bitcoin in their investment portfolios.
Some argue that including bitcoin in state reserves could bring economic benefits to the state and put it at the forefront of financial innovation.