Wyoming Lawmakers Introduce a Bitcoin Strategic Reserve Bill

Wyoming legislators have proposed “House Bill 0201” (or “HB0201”), which would permit the state treasurer to invest up to 3% of eligible state funds, such as the general fund, permanent mineral trust fund, and permanent land fund, into Bitcoin.

Under the bill, these Bitcoin investments could be made through direct purchases or investment in regulated Bitcoin exchange-traded products (ETPs) from registered investment companies.

To ensure transparency and accountability, the state treasurer would be required to submit annual reports detailing the performance, custody arrangements, market values, and any Bitcoin payments received. The bill also grants the treasurer the power to create necessary guidelines for implementation.

This latest move by Wyoming is part of a larger effort by the state to embrace blockchain technology and digital assets, with a particular focus on exploring cryptocurrency as a viable investment option for public funds.

Wyoming joins other states, including Oklahoma, Texas, Ohio, Pennsylvania, New Hampshire, and North Dakota, in actively considering the establishment of strategic Bitcoin reserves, reflecting a growing national trend.