#Wyoming allows investment in Bitcoin.#
Hot Topic Overview
Overview
Wyoming has become the first US state to allow its permanent fund to invest in Bitcoin, after passing legislation that allows for diversification into the cryptocurrency. The bill, introduced by Rep. Jacob Wasserburger, allows the permanent fund to allocate no more than 3% of its assets to Bitcoin. The move is seen as a significant step towards the US building a strategic Bitcoin reserve, as eight other states have introduced similar legislation including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota and Massachusetts. Although the state bills vary in their content and implementation, they reflect a growing interest in digital assets within the US and an acknowledgment of Bitcoin as a strategic reserve asset.
Ace Hot Topic Analysis
Analysis
Wyoming has become the latest US state to propose legislation establishing a strategic Bitcoin reserve, allowing the state’s permanent fund to diversify its investments in Bitcoin. The bill, introduced by Wyoming Representative Jacob Wasserburger and supported by Senator Cynthia Lummis, would allow the state’s permanent fund to allocate 3% of its total investment to purchasing Bitcoin, making Wyoming the first state in the US to include Bitcoin in its state reserves. Currently, eight US states have proposed similar legislation, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts. These bills vary in their content and implementation, but they all reflect a growing interest in digital asset investments among US 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 state in the US to allow state government investment in bitcoin.
Wyoming's legislation allows the permanent fund to invest in bitcoin, but limits it to 3% of the fund's total.
Several states are pushing for similar legislation allowing state government investment in bitcoin, including Massachusetts, Oklahoma, New Hampshire, and more.
The legislation is seen as an endorsement of digital assets by the US government and could push other states to follow suit.