Massachusetts and Wyoming have formally introduced bills today to establish a strategic Bitcoin reserve for the state. California’s state representative has also started proceedings to draft a Bitcoin-focused bill. 

As of January 2025, at least 15 US states are planning to add BTC as a part of their asset reserves. 

US Bitcoin Reserve Dream is Transpiring 

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

If approved, this legislation could see Wyoming’s state-managed assets, including Bitcoin, in its portfolio. The assets accumulated to nearly $30.8 billion in 2024. 

The bill would allow BTC to be added to the general fund, permanent mineral trust fund, and permanent land fund portfolios.

The largest of these funds, the Permanent Wyoming Mineral Trust Fund, holds nearly $11.5 billion. With this approval, the state could allocate over $300 million to Bitcoin investments. 

The bill is co-sponsored by several representatives and has gained support from Wyoming Senator Cynthia Lummis. 

“Wyoming took its first bold step toward a strategic bitcoin reserve! Thank you Rep. Wasserburger for introducing legislation to allow permanent funds to diversify into Bitcoin. This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” wrote Senator Lummis. 

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

Also, this bill would allow the Massachusetts State Treasurer to invest up to 10% of the annual deposits in the Commonwealth Stabiliz

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Author: Mohammad Shahid