Key Takeaways
- Wyoming's Bitcoin reserve bill proposes a 3% cap on public fund investments.
- Massachusetts' legislation allows 10% of stabilization funds for Bitcoin.
- At least 15 U.S. states are exploring Bitcoin reserves to hedge economic risks.
Wyoming and Massachusetts have introduced legislation to establish strategic Bitcoin reserves.
Wyoming’s House Bill 201, led by Representative Jacob Wasserburger, proposes allocating up to 3% of public funds—potentially over $300 million—to Bitcoin investments.
Senator Cynthia Lummis praised the initiative, calling it a step toward financial innovation.
Massachusetts’ bold investment plan
Massachusetts’ Senate Docket 422, introduced by Senator Peter Durant, allows up to 10% of the Commonwealth Stabilization Fund—approximately $800 million—to be invested in Bitcoin and other digital assets.
This legislation includes provisions for lending assets to generate returns, offering additional flexibility compared to Wyoming’s bill.
California explores Bitcoin integration
California is exploring a Bitcoin-focused bill through Assembly Member Phillip Chen’s office, with support from the non-profit Proof of Workforce.
The initiative aims to assess Bitcoin’s potential in bolstering state infrastructure and financial resilience.
Growing national & global trend
With at least 15 U.S. states, including Oklahoma and Texas, considering Bitcoin reserves, the trend reflects growing confidence in Bitcoin as a hedge against economic instability.
Globally, countries like Japan, Russia, and Canada are also incorporating Bitcoin into financial strategies.
Economic impact
A report by VanEck highlights Bitcoin’s transformative potential, suggesting widespread adoption could reduce the U.S. national debt by 36%.
