Wyoming Proposes Bill to Create Strategic Bitcoin Reserve Ahead of Trump’s Inauguration

Wyoming has introduced a bill aimed at establishing a Strategic Bitcoin Reserve, making it the latest U.S. state to take steps toward integrating Bitcoin into state funds. This move comes just days before Donald Trump’s presidential inauguration on January 20, further fueling speculation that the incoming administration may prioritize Bitcoin adoption on a national level.
Wyoming Takes Bold Step Toward Bitcoin Investment
On January 17, Wyoming Senator Cynthia Lummis took to social media to announce the introduction of the bill titled “State Funds – Investment in Bitcoin.” If passed, the legislation would allow Wyoming’s state treasurer to allocate a portion of the state’s funds into Bitcoin, including from the general fund, the permanent Wyoming mineral trust fund, and the permanent land fund. However, the bill stipulates that no more than 3% of each of these funds could be invested in Bitcoin at any given time.
Lummis, a staunch Bitcoin advocate who previously introduced a similar bill for a U.S. federal Bitcoin reserve in July 2024, praised Wyoming Representative Jacob Wasserburger for his leadership in advancing the bill. “This forward-thinking approach will benefit our state as we lead the nation in financial innovation,” Lummis wrote in a January 17 post on X (formerly Twitter).
Key Provisions of the Bill
The proposed legislation allows for a calculated approach to Bitcoin investment. If the market value of Bitcoin investments in any of the designated state funds exceeds the 3% threshold, the state treasurer would not be required to sell or reduce the holdings to comply with the limit. This provision ensures that Wyoming can continue to hold Bitcoin without being forced to liquidate assets during market fluctuations, providing more flexibility in its long-term strategy.
Growing Support for Bitcoin in U.S. States
Wyoming’s proposal follows similar initiatives by other states looking to diversify their financial reserves with Bitcoin. To date, Pennsylvania, Texas, Ohio, New Hampshire, Oklahoma, North Dakota, and Massachusetts have all put forward their own versions of a Strategic Bitcoin Reserve bill. These efforts signal a broader trend toward Bitcoin adoption at the state level, as policymakers seek to explore the potential benefits of holding Bitcoin as part of their financial strategies.
The timing of Wyoming’s bill is particularly significant, coming just days before Donald Trump’s inauguration. Betting markets like Kalshi and Polymarket have seen rising odds that Trump will establish a national Bitcoin reserve after assuming office, suggesting that the idea of a Strategic Bitcoin Reserve could soon take center stage in U.S. economic policy.
Lummis and the U.S. Government’s Bitcoin Holdings
Senator Lummis, a leading advocate for Bitcoin adoption, has been active in pushing for clearer policies surrounding Bitcoin at the federal level. Just days before the introduction of Wyoming’s bill, Lummis sent a letter to the U.S. Marshals Service demanding clarity on the government’s plans regarding the sale of 69,370 Bitcoin seized during the Silk Road asset forfeiture. Lummis has criticized the potential sale of these holdings, calling it a politically motivated move that could harm the value of Bitcoin.
Conclusion
Wyoming’s proposed bill marks another significant step in the growing movement toward Bitcoin adoption at the state level. By allowing state funds to be invested in Bitcoin, Wyoming aims to position itself as a leader in financial innovation and bolster its long-term fiscal stability. With other states exploring similar measures and the possibility of a national Bitcoin reserve under President-elect Trump, the momentum for Bitcoin as a mainstream financial asset continues to build. As policymakers across the country explore ways to incorporate Bitcoin into their financial strategies, the coming months could see further developments that shape the future of digital asset adoption in the U.S.
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