#Wyoming allows permanent fund investment 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 US to allow a state-level fund to invest in Bitcoin. The bill, introduced by Wyoming Representative Jacob Wasserburger, allows the permanent fund to invest up to 3% of its funds in Bitcoin. The bill received support from Wyoming Senator Cynthia Lummis, who has been a vocal advocate for Bitcoin. Currently, seven states in the US have proposed similar legislation allowing state governments to invest in Bitcoin, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and Massachusetts. The specific provisions of these bills vary, but they all reflect a growing interest in digital asset investment by US 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 into Bitcoin, an initiative supported by State Senator Cynthia Lummis. This legislation will make Wyoming the first state in the US to include Bitcoin in its state reserves and could set a precedent for other states. Currently, seven US states have proposed similar “strategic Bitcoin reserve” bills, but their specific content and implementation vary. For example, Oklahoma and New Hampshire allow investments in digital assets, while Wyoming's bill limits the proportion of Bitcoin investment. Other states such as Texas, Pennsylvania, and Ohio have also proposed bills allowing direct Bitcoin investment by state funds, but with limited specific provisions. North Dakota has passed a resolution supporting digital asset investment, but no formal bill has been formed. Massachusetts also introduced a similar bill, but it has not yet passed. This legislation has sparked widespread debate, with some arguing it will make Wyoming a leader in financial innovation, while others worry about the risks it could pose to the state.
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 allow state government funds to invest in Bitcoin, demonstrating the state's positive attitude towards digital assets.
Wyoming's legislation will allow the permanent fund to invest 3% of its funds in Bitcoin, making the state the first in the US to have a strategic Bitcoin reserve.
The move was supported by US Senator Cynthia Lummis, who has been a strong advocate for Bitcoin and has worked to promote digital asset legislation.
Other states are also considering similar legislation, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio and Massachusetts, which indicates a growing interest in digital assets across the United States.