Wyoming and Massachusetts legislators have both introduced recent bills that would authorize the state to invest in Bitcoin. The total of US states to do so is now eight.
Wyoming’s Representative Jacob Wasserburger introduced House Bill 201 titled “State Funds-Investment in Bitcoin,”Proposing to allocate as much as 3% of the public fund to Bitcoin investment.
If enacted, the legislation would enable the Wyoming State Treasurer to include Bitcoin among the assets managed for the state’s general fund, permanent mineral trust fund, and permanent land fund.
According to Wyoming’s latest State Treasurer investment report, the state managed $30.8 billion in assets as of Nov. 30, 2024. Permanent Wyoming Mineral Trust Fund is the largest fund, with nearly $11.5 billion. This allows for Bitcoin investments of up to $300 million, under proposed guidelines.
Wasserburger was joined by Representatives Ann Lucas and Gary Brown as well as Daniel Singh, Lee Filer and Darryl Smith.
Wyoming Senator Cynthia Lummis Congratulations Wasserburger, who introduced the bill in Wyoming, said that Wyoming “took its first bold step toward a strategic Bitcoin reserve.”
She also added:
“This forward-thinking approach will benefit our state as we lead the nation in financial innovation!”
Senator Peter Durant, from Massachusetts, introduced Senate Docket No. 422 (SD422) titled “An Act Relative to a Bitcoin Strategic Reserve.”The bill seeks authorisation for the Massachusetts Treasurer to hold a part of public funds invested in Bitcoin
Unlike Wyoming’s proposal, SD422 also includes provisions for investments in other digital assets, although it does not specify prerequisites for such investments.
The legislation allows up to 10% annual deposit in the Commonwealth Stabilization Fund be invested into Bitcoins or other digital currencies. The state fund was established on Sept. 19. Registered over $8 Billion BTC, which is worth $800,000,000.
Investing in methods
Wyoming and Massachusetts have both passed bills requiring strict measures of security for Bitcoin investment.
According to the proposed legislation state treasurers are required to ensure the secure custody of all digital assets. This includes cryptographic keys that can only be controlled by the government, secure storage environments encrypted, and geographically diversified data centres.
These proposals allow investments via regulated trusts or exchange traded products that meet state or federal regulatory standards. In addition, these bills call for robust governance systems, disaster recovery protocol, and periodic security audits in order to secure digital asset holdings.
Wyoming’s legislation excludes stakes and other investments that have a market cap of more than $500 billion. Massachusetts allows its treasurer to lend Bitcoins or other digital currencies to earn returns as long as it doesn’t increase state financial risks.
As many as 15 states
Wyoming and Massachusetts have been the most recent states to introduce legislation related to Bitcoin since December 2024.
Mike Cabell Giovanni Capriglione and Derek Merrill presented state investment plans in Bitcoin. Pennsylvania, TexasThen, OhioIn December, New Hampshire The following are some examples of how to get started: North Dakota Similar measures were taken earlier this month.
Dennis Porter is the co-founder and CEO at Satoshi Action Fund. He supports legislative efforts across various US States. He had previously said that twelve states were going to introduce legislation in this year for the establishment of a Bitcoin Strategic Reserve.
But on January 17, he decided to raise the figure by Confirmation In 2025, up to fifteen states could be involved in the development of such a plan.
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