CandleFocus Wyoming and Massachusetts introduce legislation to allow state investments in Bitcoin
2025-01-17
Author: Content Editor
Lawmakers in Wyoming and Massachusetts have introduced bills to allow state investments in Bitcoin, bringing the total number of US states with such proposals to eight. In Wyoming, the proposed legislation would allocate up to 3% of the state's public funds to Bitcoin investments, potentially allowing for over $300 million in BTC investments. Representatives Ann Lucas, Gary Brown, Lee Filer, Daniel Singh, and Darin Smith, along with Jacob Wasserburger, co-sponsored the bill. In Massachusetts, the bill allows for investments in Bitcoin and other digital assets, with a potential allocation of up to $800 million in BTC. Both bills emphasize stringent security measures for managing Bitcoin investments, including secure custody, encryption, and regular security audits. These bills are part of a larger trend, with up to 15 states expected to work on establishing Bitcoin strategic reserves in 2025.
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