Bitcoin strategic reserve bill introduced in Wyoming

Key Takeaways

• Wyoming lawmakers are proposing a bill to allow state funds to be invested in Bitcoin, up to a 3% limit per fund.
• The bill mandates strict security measures for Bitcoin custody and requires the state treasurer to report annually on investment performance.

Wyoming lawmakers have introduced “ House Bill 0201 ” or “HB0201,” a bill that would allow the state treasurer to invest up to 3% of qualifying state funds—including the general fund, permanent mineral trust fund, and permanent land fund—in Bitcoin.

Under the proposed legislation, Bitcoin investments can be made through direct purchases or via investments in regulated Bitcoin ETPs issued by registered investment companies.

To ensure transparency and accountability, the state treasurer would be required to submit annual reports detailing Bitcoin investments’ performance, custody arrangements, market values, and any payments received in Bitcoin. The bill also grants the treasurer the authority to create necessary implementing rules.

Wyoming’s initiative follows the state’s broader push into blockchain technology and digital assets, as lawmakers explore crypto as an investment option for public funds.

Wyoming’s latest move joins a growing national trend of states exploring crypto investments. It joins six other states—Oklahoma, Texas, Ohio, Pennsylvania, New Hampshire, and North Dakota—in actively considering the establishment of strategic Bitcoin reserves.

The bill is set to take effect immediately upon completion of all necessary legislative processes. It will now move through the Wyoming legislature where it will be debated and voted on.

“Wyoming took its first bold step toward a strategic bitcoin reserve,” Sen. Cynthia Lummis commented on the bill. “This forward-thinking approach will benefit our state as we lead the nation in financial innovation.”

Sen. Lummis introduced a bill last November, known as the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, outlining a plan for the federal government to buy 1 million Bitcoins within five years. This acquisition would roughly equal 5% of all Bitcoin supply.