#Wyoming to Invest in Bitcoin#
Hot Topic Overview
Overview
Wyoming is actively pursuing the inclusion of Bitcoin in its Permanent Fund portfolio. State Representative Jacob Wasserburger has introduced legislation that would allow the state's Permanent Fund to diversify into Bitcoin investments. The proposal has the support of Senator Cynthia Lummis, who has been a vocal advocate for Bitcoin. Currently, Wyoming is poised to become the eighth US state to propose establishing a strategic Bitcoin reserve, joining Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts. While the details and implementation of each state's proposal differ, they collectively reflect a growing interest in digital assets across the United States.
Ace Hot Topic Analysis
Analysis
Wyoming is actively pursuing the inclusion of Bitcoin in its Permanent Fund portfolio. Senator Cynthia Lummis stated that Wyoming has already enacted legislation allowing the Permanent Fund to diversify into Bitcoin. Representative Jacob Wasserburger also introduced a legislative proposal for a strategic Bitcoin reserve, permitting the state to use state funds to purchase Bitcoin, though limiting the investment to 3% of the fund's total. Currently, eight US states have proposed similar "strategic Bitcoin reserve" bills, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, North Dakota, and Massachusetts. While the content and implementation of these bills differ, they reflect the growing interest in digital asset investments across US states. Wyoming, being a pioneer in the digital asset space, its Bitcoin investment will provide a reference case for other states and potentially encourage more states to incorporate Bitcoin into their portfolios.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Wyoming legislation allows the use of permanent funds to buy Bitcoin and hold it as part of a strategic reserve.
Multiple states, including Oklahoma, New Hampshire, Texas, Pennsylvania, Ohio, and North Dakota, have also proposed similar legislation allowing state governments to invest in Bitcoin.
Massachusetts became the first deep blue state to propose establishing a strategic Bitcoin reserve, indicating that the idea is gaining wider support.
Some argue that incorporating Bitcoin into state-level reserves could provide states with new investment opportunities and generate more revenue for their coffers.