#Wyoming allows permanent fund investments in Bitcoin.#
Hot Topic Overview
Overview
Wyoming has passed legislation allowing its permanent fund to invest in Bitcoin, making it the first US state to allow state government investment in the cryptocurrency. The bill allows for up to 3% of the fund's total to be invested in Bitcoin and is seen as a significant step toward establishing a strategic Bitcoin reserve. In addition, Massachusetts has proposed a similar bill aimed at creating a Bitcoin strategic reserve. Currently, seven states in the US have introduced bills related to Bitcoin investment, each with varying content and implementation plans, but all demonstrating a growing interest in digital asset investments among American states.
Ace Hot Topic Analysis
Analysis
Wyoming has passed legislation allowing its Permanent Fund to diversify its investments into Bitcoin, becoming the first U.S. state to allow state-level funds to invest in Bitcoin. The bill, proposed by Rep. Jacob Wasserburger, allows the Permanent Fund to invest up to 3% of its assets in Bitcoin. The legislation was supported by Sen. Cynthia Lummis, who has been a vocal supporter of Bitcoin and has actively pushed for digital asset legislation. Currently, seven other U.S. states have introduced similar "Strategic Bitcoin Reserve" bills, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and North Dakota, although the specific terms and implementation vary. Massachusetts has also introduced a similar bill, pushed by Sen. Peter Durant. These bills aim to incorporate Bitcoin into state-level reserves to achieve asset diversification and hedge against inflation. Although these bills are in their early stages, they reflect the growing acceptance and interest in digital assets across U.S. states.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wyoming allows its permanent fund to invest in Bitcoin, becoming the first US state to allow state government funds to invest in the cryptocurrency, marking an increasing acceptance of digital assets by US government.
The bill allows the Wyoming permanent fund to invest up to 3% of its funds in Bitcoin, indicating a cautious assessment by the government of the risks and rewards of investing in Bitcoin.
The bill's passage also reflects the gradual refinement of US government regulations on digital assets, providing a more stable environment for their legitimate development.
Other states are also considering similar legislation, such as Massachusetts, indicating a growing interest in digital asset investments by US governments.