[NEWS] Wyoming introduces bill to create Bitcoin reserve

A bill to establish a Bitcoin (BTC) reserve was submitted in the US state of Wyoming on the 16th. Currently, bills to establish Bitcoin reserves have been submitted in states such as Pennsylvania, Texas, Ohio, and Massachusetts, and this latest move follows on from these.

The "State Fund Investment in Bitcoin Bill" was submitted by Wyoming State Representative Jacob Wasserburger. It states that up to 3% of Wyoming's Permanent Mineral Trust Fund and Permanent Land Fund will be invested in Bitcoin.

Wyoming has been known for its positive environment for crypto assets (virtual currencies) and Web 3.0, including a bill to recognize DAOs (decentralized autonomous organizations) as legal entities. Wyoming is also the state where Senator Cynthia Lummis, who submitted a bill on a Bitcoin reserve to the US Senate last year, was elected.

"This forward-thinking approach will benefit our state, which leads the nation in financial innovation," Lummis said in response to the introduction of a Bitcoin reserve bill in Wyoming.

Wyoming took its first bold step toward a strategic bitcoin reserve! Thank you Rep. Wasserburger for introducing legislation to allow permanent funds to diversify into Bitcoin. This forward-thinking approach will benefit our state as we lead the nation in financial innovation!

— Senator Cynthia Lummis (@SenLummis) January 17, 2025

Currently, the movement to establish Bitcoin reserves is accelerating in each state in the United States, but attention is focused on the actions of the U.S. government. President Trump, who will become the U.S. President, has also shown a positive attitude toward the establishment of a Bitcoin reserve by Senator Lummis, and discussions are expected to begin in earnest after he takes office.

The "Bitcoin Act of 2024" submitted by Senator Lummis aims for the U.S. government to purchase Bitcoin periodically over the next five years and hold 1 million BTC. Trump has already indicated his intention to establish a reserve based on the Bitcoin held by the government, and adjustments are expected to be made through discussions.

Reference: Announcement
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