#Wyoming allows permanent fund investments in Bitcoin.#
Hot Topic Overview
Overview
Wyoming has become the first U.S. state to allow its permanent fund to invest in Bitcoin. The bill was introduced by state representative Jacob Wasserburger and supported by Senator Cynthia Lummis. The bill allows the Wyoming Permanent Fund to invest up to 3% of its funds in Bitcoin, which is seen as a precedent for states across the U.S. to establish "strategic Bitcoin reserves." Currently, several other states, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts, have proposed similar bills, but the specific terms and implementation methods vary.
Ace Hot Topic Analysis
Analysis
Wyoming has become the first U.S. state to allow its permanent fund to invest in Bitcoin. State Senator Cynthia Lummis said Wyoming has passed legislation allowing the permanent fund to diversify into Bitcoin. The bill allows the use of state funds to purchase Bitcoin, but limits it to 3% of the total fund. Currently, seven states have proposed “strategic Bitcoin reserve” bills, varying in content and implementation. Oklahoma and New Hampshire allow investments in digital assets worth over $500 billion (essentially covering only Bitcoin); Texas has two proposals, one allowing 1% of state budget surplus to be invested in Bitcoin, and another allowing only Bitcoin donations; Pennsylvania and Ohio have also proposed allowing direct investment in Bitcoin using state funds, but with limited specifics. In addition, North Dakota has only passed a resolution supporting digital asset investments, without yet forming a formal bill. Massachusetts has also proposed a bill to establish a Bitcoin strategic reserve. The introduction of these bills indicates a growing interest in digital assets among U.S. states, with a desire to include them in their portfolios.
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 funds to invest in Bitcoin, which will put Wyoming at the forefront of financial innovation.
Wyoming's legislation allows the permanent fund to invest in Bitcoin, but limits the investment to 3% of the fund's total, indicating a cautious approach towards Bitcoin investment.
Beyond Wyoming, other US states have also introduced similar legislation allowing state funds to invest in Bitcoin, but the specific terms and implementation methods vary.
The Bitcoin Strategic Reserve Act has been proposed in multiple US states, demonstrating that a growing number of state governments are beginning to pay attention to digital assets and view them as a potential investment tool.