Wyoming Proposes Strategic Bitcoin Reserve: Details

Wyoming has taken a groundbreaking step toward establishing a Strategic Bitcoin Reserve, marking a significant milestone in state-led cryptocurrency adoption. A new bill , titled “State Funds-Investment in Bitcoin,” was introduced on January 17, just days before President-elect Donald Trump’s inauguration. If passed, the bill would authorize Wyoming to invest a portion of its state funds in Bitcoin, reinforcing its reputation as a pioneer in financial innovation. The proposal allows the Wyoming state treasurer to allocate up to 3% of funds from the general fund, the Permanent Wyoming Mineral Trust Fund, and the Permanent Land Fund into Bitcoin. Notably, the bill stipulates that if Bitcoin’s market value exceeds this 3% threshold, the state treasurer will not be required to liquidate holdings to meet the limit, signaling a long-term commitment to the asset. Wyoming Proposes Bold Bitcoin Investment Plan Wyoming Senator Cynthia Lummis, a staunch Bitcoin advocate, lauded the initiative on social media, calling it a “bold step toward a strategic Bitcoin reserve.” Lummis, who also introduced a similar bill at the federal level in July 2024, commended Wyoming Representative Jacob Wasserburger for championing the legislation, emphasizing its potential to position the state as a leader in financial innovation. “This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” Lummis stated, underscoring the importance of diversification and Bitcoin’s growing role in modern finance. The bill’s introduction aligns with a broader trend of state-level interest in Bitcoin reserves. Wyoming joins a growing list of states, including Pennsylvania, Texas, and Ohio, that have proposed similar legislation, reflecting a collective recognition of Bitcoin as a strategic asset. Nationwide Momentum Builds The push for state-level Bitcoin reserves coincides with mounting speculation about the Trump administration’s potential plans to establish a national Bitcoin reserve . Betting platforms Kalshi and Polymarket have seen a surge in odds favoring the move, amplifying interest in state initiatives. Wyoming’s proposal also comes amid rising scrutiny of the U.S. government’s handling of its own Bitcoin holdings. On January 15, Lummis penned a letter to the U.S. Marshals Service questioning plans to liquidate 69,370 Bitcoin seized from the Silk Road asset forfeiture. She described the potential sale as politically motivated and urged for greater transparency. The post Wyoming Proposes Strategic Bitcoin Reserve: Details appeared first on TheCoinrise.com .