Wyoming lawmakers have proposed “House Bill 0201” (HB0201), allowing the state treasurer to invest up to 3% of certain state funds in Bitcoin. These funds include the general fund, permanent mineral trust fund, and permanent land fund. The bill permits investments through direct Bitcoin purchases or regulated Bitcoin exchange-traded products (ETPs) from registered investment companies.
To maintain transparency, the state treasurer must provide annual reports on Bitcoin investments. These reports will cover performance, custody arrangements, market values, and any Bitcoin payments received. The bill also empowers the treasurer to establish necessary rules for implementation.
This initiative is part of Wyoming’s broader strategy to embrace blockchain technology and digital assets. Lawmakers are considering cryptocurrency as a viable investment for public funds. Wyoming joins six other states—Oklahoma, Texas, Ohio, Pennsylvania, New Hampshire, and North Dakota—that are also exploring the creation of strategic Bitcoin reserves.
The bill will take effect immediately after completing the legislative process and will be debated and voted on in the Wyoming legislature. Senator Cynthia Lummis praised the bill, stating it represents a significant step toward establishing a strategic Bitcoin reserve. She believes this innovative approach will position Wyoming as a leader in financial innovation.
In addition to HB0201, Sen. Lummis previously introduced the BITCOIN Act, which aims for the federal government to acquire 1 million Bitcoins over five years.
