#Multi-state Legislation Invests in Bitcoin#

Currently, multiple states in the U.S. are actively pushing for legislation that would allow state governments to invest in Bitcoin and establish "strategic Bitcoin reserves." Wyoming has taken the first step, with state Rep. Wasserburger's legislative proposal allowing the Permanent Fund to diversify its investments into Bitcoin. The bill has received support from Sen. Cynthia Lummis. Massachusetts has also joined the ranks, with state Sen. Peter Durant proposing a bill to establish a "strategic Bitcoin reserve," making it the first deep-blue state to put forward similar legislation. Currently, eight states have proposed similar bills, including Oklahoma, New Hampshire, Wyoming, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts. The content and implementation of these bills vary. For example, Oklahoma and New Hampshire allow investments in digital assets with a market capitalization of over $500 billion, while Wyoming's bill limits Bitcoin investment to 3% of the fund's total. While the ultimate fate of these bills remains uncertain, they reflect the growing importance of digital assets for U.S. states, as well as the recognition of Bitcoin as a reserve asset.