Wyoming Introduces Strategic Bitcoin Reserve Bill, Becomes the 7th US State to Do So

Wyoming legislators have introduced House Bill 0201 (HB0201) to permit the state treasurer to allocate up to 3% of certain state funds towards Bitcoin investments. This includes funds from the general fund, permanent mineral trust fund, and permanent land fund.

The bill proposes two avenues for investment: direct acquisition of Bitcoin or through regulated Bitcoin exchange-traded products (ETPs) managed by registered investment companies.

To ensure accountability, the treasurer would be required to submit annual reports detailing the performance of Bitcoin holdings, custody arrangements, valuation, and any associated income.

The legislation also empowers the treasurer to establish rules for its implementation.

This initiative is part of Wyoming's broader effort to integrate Bitcoin and digital assets into its financial framework.

If enacted, Wyoming would join several other states, such as Oklahoma and Texas, in exploring Bitcoin as a potential component of their public investment strategies.

The bill is currently making its way through the legislative process, where it will be debated and voted on. If approved, the measure would take effect immediately.

Senator Cynthia Lummis, a known advocate for Bitcoin, praised the initiative as a forward-thinking step.

She has been a vocal proponent of integrating Bitcoin into public financial systems, including introducing the BITCOIN Act last year.

The federal proposal suggested the U.S. government purchase one million Bitcoin over five years, equivalent to about 5% of the total supply.

Wyoming's exploration of Bitcoin as an investment vehicle underscores a growing interest in the role of Bitcoin in state-level finance.