Wyoming has introduced a bill to create a Strategic Bitcoin Reserve, aligning with other states pursuing similar initiatives ahead of Donald Trump's presidential inauguration on January 20. Senator Cynthia Lummis, a known advocate for Bitcoin, highlighted this legislative effort, emphasizing its potential to diversify state funds into cryptocurrency. The proposal allows the Wyoming state treasurer to invest up to 3% of various state-run funds, including the general fund and mineral trust fund, in Bitcoin. Importantly, if the market value of these Bitcoin investments exceeds the 3% threshold, there is no obligation to sell or reduce the allocation. This legislative move reflects a growing trend among US states embracing Bitcoin adoption, with states like Texas, Ohio, and Massachusetts also considering similar bills. The bill coincides with Lummis's calls for clarity from the federal government regarding the sale of seized Bitcoins from the Silk Road case, showcasing her continuing efforts in the realm of cryptocurrency legislation.

Source 🔗