TL;DR
- Wyoming and Massachusetts introduce bills to establish Bitcoin reserves, marking a growing trend among US states.
- Wyoming’s bill allows up to 3% of state funds to be invested in Bitcoin, potentially adding over $300 million to its reserves.
- Massachusetts proposes a Bitcoin strategic reserve, investing up to 10% of its $9 billion stabilization fund in digital assets.
Wyoming and Massachusetts have introduced bills to establish Bitcoin reserves for their states. This development marks a growing trend among US states to diversify their asset portfolios with digital currencies.
Wyoming’s Bold Step
Wyoming has long been a pioneer in the cryptocurrency space, and its latest legislative proposal further cements its position. A group of five Republican legislators has submitted a bill that would allow the state treasurer to invest public funds in Bitcoin.
The bill is notably restrictive, permitting only up to 3% of a given state fund to be invested in Bitcoin. This cautious approach aims to balance the potential benefits of cryptocurrency investments with the inherent risks.
The proposed legislation would enable Bitcoin to be added to Wyoming’s general fund, permanent mineral trust fund, and permanent land fund portfolios. If approved, the state could invest over $300 million in Bitcoin, given the current size of its state-managed assets.
Wyoming’s move is seen as a forward-thinking approach to financial innovation, with Senator Cynthia Lummis, a prominent Bitcoin advocate, praising the initiative.
Massachusetts’ Strategic Reserve
Meanwhile, in Massachusetts, a lone Republican state senator, Peter Durant, has introduced a bill proposing the establishment of a Bitcoin strategic reserve. The bill, titled “An Act Relative to a Bitcoin Strategic Reserve,” seeks to invest up to 10% of the state’s $9 billion stabilization fund in Bitcoin and other digital assets.
This more permissive approach reflects the growing acceptance of cryptocurrencies in mainstream finance. The Massachusetts bill also includes provisions for lending Bitcoin and other digital assets to generate additional returns, further enhancing the state’s financial strategy.
The proposed reserve is intended to complement, not replace, traditional investments, ensuring a balanced and diversified portfolio.
Growing Trend Among US States
Wyoming and Massachusetts are not alone in their pursuit of Bitcoin reserves. As of January 2025, at least 15 US states are considering similar legislation. This trend is gaining momentum, with states recognizing the potential of Bitcoin as a strategic asset.
The introduction of these bills coincides with rising interest in cryptocurrencies globally, with nations like Japan and Russia also exploring Bitcoin reserves.
