Freshman Representative Jacob Wasserburger has introduced the “State Funds-Investment in Bitcoin Act” (HB0201) in Wyoming, proposing the creation of a BTC strategic reserve for the state. This move garnered praise from Senator Cynthia Lummis. The bill aims to position Wyoming as a leader in Bitcoin innovation and support long-term financial stability through crypto investments.
Senator Cynthia Lummis On Wyoming’s Bitcoin Reserve Bill
According to Wasserburger, the bill reflects Wyoming’s history of pioneering reforms. “Wyoming has always led the way—whether it was women’s suffrage, the creation of the first national park, or inventing the LLC,” he said. He described HB0201 as a step toward maintaining the state’s reputation for legislative innovation in digital assets.
If passed, HB0201 would authorize allocating a portion of Wyoming’s state funds into Bitcoin. The strategy seeks to leverage BTC’s potential for long-term value growth while aligning with principles like decentralization and financial resilience.
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!
— Senator Cynthia Lummis (@SenLummis) January 17, 2025
Wyoming’s recent history of embracing crypto includes laws such as the Wyoming Special Purpose Depository Institution (SPDI) framework. Moreover, the nation has passed over two dozen other regulations since 2018, establishing the state as a hub for blockchain and cryptocurrency businesses.
Wasserburger also highlighted Wyoming’s potential role in broader national initiatives involving Bitcoin. He expressed support for efforts by Wyoming Senator Cynthia Lummis and President-elect Donald Trump to create a U.S. Strategic Bitcoin Reserve. “Wyoming can contribute significantly to national efforts,” he said, adding that the reserve would strengthen the country’s financial security and global leadership.
Other States Also Consider BTC Investment
The proposed legislation comes at a time when other states are exploring similar initiatives. Wasserburger emphasized the importance of Wyoming moving quickly to maintain its leadership. “We can’t wait while other states like Texas and New Hampshire advance their own Bitcoin reserve plans,” he said. “Passing HB0201 ensures Wyoming sets the standard for innovation and independence in the digital economy.”
The bill underscores BTC’s growing recognition as a financial asset with geopolitical importance. Wasserburger pointed to Bitcoin’s resilience and growth, calling it a strategic move for Wyoming’s future. “Investing in Bitcoin is Wyoming’s declaration that we are prepared for what’s next,” he said.
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Source: https://www.cryptonewsz.com/cynthia-lummis-wyoming-bitcoin-reserve-bill/