Wyoming and Massachusetts Advance Bitcoin Reserve Initiatives

Massachusetts and Wyoming introduced bills today to establish a systematic Bitcoin reserve for the state. A California state representative has begun the process of developing a bill focused on bitcoin.

As of January 2025, at least 15 US states plan to add BTC as part of their property reserves.

The US Bitcoin Reserve dream is moving.

Wyoming lawmakers, led by Representative Jacob Wasserberger, introduced House Bill 201, which would allow the state to invest up to 3% of its public funds in Bitcoin.

If passed, this legislation could see Wyoming's state-owned assets, including Bitcoin, in its portfolio. In the year By 2024, its assets have accumulated to nearly $30.8 billion.

The bill allows BTC to be added to portfolios of general funds, permanent mining trust funds and permanent land funds.

The largest of these funds, the Permanent Wyoming Mineral Trust Fund, holds approximately $11.5 billion. With this confirmation, the state can allocate more than 300 million dollars for Bitcoin investments.

The bill was co-sponsored by several representatives and received support from Senator Cynthia Lammis of Wyoming.

Wyoming Takes First Bold Step Towards Strategic Bitcoin Reserve! Thanks to Rep. Wasserburger for passing legislation that would allow fiat currencies to be split into Bitcoin. This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” Senator Lammis wrote.

Meanwhile, Massachusetts Senator Peter Durant has introduced Senate Docket 422 (SD422), titled “An Act Relating to the Bitcoin Strategic Reserve.”

This bill also allows the Massachusetts State Treasurer to invest up to 10% of the annual deposit in the Commonwealth's Stabilization Fund in Bitcoin or other digital assets.

In the year By 2024, with the fund holding more than $8 billion, the state could allocate up to $800 million to Bitcoin under this proposal.

“Mass is now on the crypto train, with Senator Peter Durant pushing a bill for a Bitcoin reserve account using part of the state's rainy day fund. It has a cap that cools the bill by 10%. The move isn't just mass folding; Texas and OK are on this, and Trump is going to make it national,” wrote Mario Naufal on X (formerly Twitter).

Like the Wyoming bill, the Massachusetts law allows for investments in other digital assets and includes provisions for lending these assets to generate additional returns.

Oklahoma, Texas and California joined the movement

As BeenCrypto previously reported, Oklahoma and Texas are also pushing similar proposals. In Texas, state senator Charles Schwertner has introduced legislation to designate bitcoin as a reserve currency.

“It's time for Texas to lead the way in establishing a strategic bitcoin reserve. That's why I introduced SB 778, which if passed and signed into law, would make Texas the first state in the country to establish a strategic bitcoin reserve,” Schwertner wrote on X (formerly Twitter).

California is taking a more descriptive approach. Assemblyman Philip Chen's office is appointing a non-profit organization to staff certification to help draft a bill focused on Bitcoin.

The group provides education, community engagement and research to explore Bitcoin's potential to support state infrastructure and financial resilience.

At least 15 US states, including Ohio and Pennsylvania, are considering Bitcoin reserves to protect against the dollar's collapse and economic instability.

Globally, countries such as Japan, Switzerland and Russia are exploring strategies to incorporate Bitcoin into their financial systems. In Canada, Vancouver has already approved Bitcoin for municipal storage.

Also, according to a recent report by VanEyck, the expansion of bitcoin reserves could reduce the US national debt by 36% this year.

These developments demonstrate the expanding influence of Bitcoin as a financial asset as more states and nations explore its potential to improve fiscal stability.