Wyoming proposed a strategic bitcoin reserve account
The US state of Wyoming has joined several states across the country in introducing legislation to create a strategic bitcoin reserve ahead of Donald Trump's presidential inauguration on January 20.
Wyoming Takes First Bold Step Towards Systematic Bitcoin Reserve, Wyoming Senator Cynthia Lammis wrote in a January 17, 2010 post, following the passage of a bill titled “State Fund Investment in Bitcoin.” Wyoming state currency that invests in Bitcoin (BTC).
Lummis praises the Wyoming representative for pushing Bitcoin
Lummis, a vocal bitcoin advocate who introduced the Bitcoin Strategic Reserve Account to the U.S. government in July 2024, praised Wyoming Representative Jacob Wasserberger for introducing the bill to “allow real funds to be diverted to bitcoin.”
“This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” Lummis said.
The bill proposes to use the Wyoming State Treasurer's General Fund, the Permanent Wyoming Mineral Trust Fund and the Permanent Land Fund to invest in Bitcoin. However, it is stated that no more than 3% of each fund can be allocated to Bitcoin.
The bill states that if Bitcoin exceeds the 3% limit, no selling is required to maintain the portfolio allocation limit. Source: State of Wyoming
In addition, if the total market value of Bitcoin investments in any funds exceeds the 3% limit, the state treasurer “shall not be required to sell or reduce investments to comply with the limits of this section.”
US states continue to adopt more Bitcoin
So far, Pennsylvania, Texas, Ohio, New Hampshire, Oklahoma, North Dakota and Massachusetts have all proposed a strategic bitcoin reserve account.
In the year The development comes as the possibility of Trump establishing a strategic bitcoin reserve after he takes office on January 20 is increasing on the Kalshi and Polymarket markets.
RELATED: As Trump's Inauguration Looms, US Bitcoin Reserve Has Analysts On Their Tail
This comes just days after Lummis sent a letter to the U.S. Marshals Service on Jan. 15 alleging the government's potential sale of 69,370 bitcoins seized in a Silk Road property bust.
Lummis described attempts to sell the US government's bitcoin holdings as political skepticism.
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