The US state of Wyoming has joined several other states across the country in introducing legislation to create a strategic Bitcoin reserve ahead of President Donald Trump’s inauguration on January 20.
Wyoming Senator Cynthia Lummis wrote in a Jan. 17 “We took a bold step,” he wrote. Wyoming invests a portion of its state funds in Bitcoin (BTC).
Lummis praises Wyoming representative for pushing Bitcoin
Lummis, an ardent Bitcoin advocate who introduced a Bitcoin strategic reserve bill to the U.S. Senate in July 2024, praised Wyoming lawmaker Jacob Wasserburger for introducing legislation that would “allow permanent funds to be diversified into Bitcoin.” I did it.
Lummis said: “This forward-thinking approach will serve our state well as we lead the nation in financial innovation.”
The bill proposed that the Wyoming State Treasurer could use the General Fund, the Permanent Wyoming Minerals Trust Fund, and the Permanent Land Fund to invest in Bitcoin. However, each fund is said to be unable to allocate more than 3% to Bitcoin.
The bill states that if Bitcoin exceeds the 3% threshold, no sales are required to maintain portfolio allocation limits. source: Wyoming
Additionally, if the total market value of a fund’s Bitcoin investments exceeds the 3% limit, the state treasurer said, “you will not be required to sell or otherwise reduce your investments to comply with the limits of this section.”
US states continue to expand Bitcoin adoption.
To date, Pennsylvania, Texas, Ohio, New Hampshire, Oklahoma, North Dakota, and Massachusetts have all submitted strategic Bitcoin reserve bills.
The development comes as odds of Trump securing strategic Bitcoin reserves after taking office on January 20 are soaring at Kalshi and Polymarket betting markets.
relevant: As Trump’s inauguration approaches, America’s Bitcoin reserves have experts confused.
This comes just days after Loomis sent a letter to U.S. Marshals on January 15 demanding answers about the government’s potential sale of 69,370 bitcoins seized during the Silk Road asset forfeiture.
Lummis characterized the U.S. government’s attempt to sell off its Bitcoin holdings as a form of political malice.
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