Wyoming lawmakers have introduced a groundbreaking bill that would allow the state to invest up to 3% of its public funds in Bitcoin, just days before Donald Trump's anticipated return to the White House. The legislation, known as House Bill 0201 (HB0201), marks Wyoming's latest move in embracing cryptocurrency innovation.
Led by Representative Jacob Wasserburger, the bill targets key state funds including the general fund, permanent mineral trust fund, and permanent land fund. With state-managed assets totaling nearly $30.8 billion in 2024, the proposed 3% allocation could potentially direct over $300 million toward Bitcoin investments.
The bill outlines two primary investment approaches: direct Bitcoin purchases and investments in regulated Bitcoin exchange-traded products (ETPs) offered by registered investment companies. To maintain oversight, the state treasurer would need to provide annual reports detailing investment performance, custody arrangements, and market values.
Wyoming joins a growing movement of states exploring Bitcoin reserves, with at least 15 states including Massachusetts, Texas, and Oklahoma developing similar legislation. The timing coincides with expectations of a crypto-friendly Trump administration, as industry leaders lobby for executive action on Bitcoin policy.
Senator Cynthia Lummis, a prominent crypto advocate, praised Wyoming's initiative: "Wyoming took its first bold step toward a strategic bitcoin reserve. This forward-thinking approach will benefit our state as we lead the nation in financial innovation."
The bill would take effect immediately upon completing the legislative process. It now moves to the Wyoming legislature for debate and voting, potentially positioning the state as a pioneer in government Bitcoin adoption.
In Washington, Senator Lummis and other congressional members are simultaneously pushing for a national Bitcoin reserve, suggesting Treasury reforms to allow Bitcoin holdings on the federal balance sheet. A White House crypto council, led by David Sacks, has been identified as a key priority for blockchain advocates during the upcoming administration.