#Wyoming allows permanent fund investments in Bitcoin.#
Hot Topic Overview
Overview
Wyoming has passed legislation allowing the state's permanent fund to invest in Bitcoin, making it the first state in the U.S. to allow a state-level fund to invest in the cryptocurrency. The bill, introduced by Representative Jacob Wasserburger, allows the permanent fund to invest up to 3% of its assets in Bitcoin. The legislation was supported by Senator Cynthia Lummis, who has been a vocal supporter of Bitcoin. Currently, seven states have introduced similar legislation, though the specific terms and implementation vary. In addition to Wyoming, Oklahoma and New Hampshire also allow investments in digital assets, while Texas, Pennsylvania, and Ohio permit state funds to invest directly in Bitcoin. Massachusetts has also proposed a bill to establish a Bitcoin strategic reserve. These legislative developments demonstrate a growing interest in Bitcoin and other digital assets among 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 allowing the state’s permanent fund to diversify its investments by allocating a portion to Bitcoin. The bill limits the investment to a maximum of 3% of the fund’s total value. The move has received support from state Senator Cynthia Lummis, who has been an outspoken advocate for incorporating Bitcoin into national reserves. Currently, seven US states have proposed similar “strategic Bitcoin reserve” bills, each with varying contents and implementation methods. Besides Wyoming, Oklahoma and New Hampshire also allow investment in digital assets, while Texas has two proposals, one allowing 1% of the state budget surplus to be invested in Bitcoin and another allowing only Bitcoin donations. Pennsylvania and Ohio have also proposed bills allowing state funds to directly invest in Bitcoin, albeit with limited provisions. Additionally, North Dakota has passed a resolution supporting digital asset investment, but has not yet formulated a formal bill. Massachusetts has also introduced similar legislation aimed at establishing a Bitcoin strategic reserve. The passage of these bills marks a recognition of digital asset investment by US states and could encourage other states to follow suit.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wyoming allows its permanent fund to invest in Bitcoin, becoming the first state in the US to permit state-level funds to invest in Bitcoin, setting a precedent for other states.
The bill allows Wyoming's permanent fund to invest up to 3% of its assets in Bitcoin, signaling the state's confidence in digital assets.
The passage of the bill marks a shift in the US government's stance on digital assets, recognizing Bitcoin's legitimacy as an investment vehicle.
The bill's passage has sparked similar initiatives in other states, with over 7 states currently proposing similar legislation aimed at establishing strategic Bitcoin reserves.