Wyoming has joined the growing list of U.S. states introducing bills to establish a Strategic Bitcoin Reserve. Senator Cynthia Lummis announced the proposed legislation, titled “State Funds-investment in Bitcoin,” on January 17, just days before Donald Trump’s presidential inauguration.
The bill, introduced by Representative Jacob Wasserburger, would allow the Wyoming state treasurer to invest up to 3% of state funds—including the general fund and permanent trust funds—in Bitcoin (BTC). The proposal aims to diversify Wyoming’s investments and position the state as a leader in financial innovation.
Lummis, a longtime Bitcoin advocate, praised the initiative as a forward-thinking approach that could bolster Wyoming’s economy. The bill specifies that if Bitcoin investments exceed the 3% cap due to price increases, the state treasurer would not be required to sell assets to comply with the limit.
Wyoming joins Pennsylvania, Texas, Oklahoma, New Hampshire, and others in pursuing Bitcoin reserve legislation. The proposals align with heightened expectations for Trump’s administration to advance Bitcoin adoption after his inauguration on January 20.
This development follows Lummis’ recent criticism of the U.S. government’s potential sale of 69,370 BTC seized during the Silk Road case, which she labeled as politically motivated.
Source: Cointelegraph
