Lawmakers in Wyoming and Massachusetts have recently introduced bills to authorize state investments in Bitcoin (BTC), bringing the total number of US states with such proposals to eight.

In Wyoming, Representative Jacob Wasserburger introduced House Bill 201, titled “State Funds-Investment in Bitcoin,” proposing that the state allocate up to 3% of its public funds to Bitcoin investments.

If enacted, the legislation would enable the Wyoming State Treasurer to include Bitcoin among the assets managed for the state’s general fund, permanent mineral trust fund, and permanent land fund.

According to Wyoming’s latest State Treasurer investment report, the state managed $30.8 billion in assets as of Nov. 30, 2024. The largest trust, the Permanent Wyoming Mineral Trust Fund, holds nearly $11.5 billion, enabling potential Bitcoin investments exceeding $300 million under the proposed guidelines.

Representatives Ann Lucas, Gary Brown, Lee Filer, Daniel Singh, and Darin Smith, along with Wasserburger, co-sponsored the bill.

Wyoming Senator Cynthia Lummis congratulated Wasserburger on introducing the bill and said Wyoming “took its first bold step toward a strategic Bitcoin reserve.”

She added:

“This forward-thinking approach will benefit our state as we lead the nation in financial innovation!”

In Massachusetts, Senator Peter Durant introduced Senate Docket 422 (SD422), titled “An Act Relative to a Bitcoin Strategic Reserve.” The bill seeks to authorize the Massachusetts State Treasurer to invest a portion of the state’s public funds in Bitcoin

Unlike Wyoming’s proposal, SD422 also includes provisions for investments in other digital assets, although it does not specify prerequisites for such investments.

The bill allows investing up to 10% of the annual deposits in the Commonwealth Stabilization Fund into Bitcoin or other digital assets. As of Sept. 19, the state fund registered over $8

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Author: Gino Matos