Wyoming has introduced a bill to create a Strategic Bitcoin Reserve, following in the footsteps of several other states ahead of Donald Trump's upcoming presidential inauguration today.
Senator Cynthia Lummis announced the introduction of the bill called "State Funds-investment in Bitcoin" on January 17, calling it the state's first major step toward establishing a strategic Bitcoin reserve. If passed, the bill would allow a portion of Wyoming's state funds to be invested in Bitcoin.
Senator Lummis believes this progressive approach will benefit the state, leading financial innovation in the country.
The bill suggests that the Wyoming state treasurer may use the general fund, the Wyoming permanent mineral trust fund and the permanent land fund to invest in Bitcoin, but limits the allocation to no more than 3% in each fund.