Wyoming proposes Bitcoin investments for state funds

Wyoming lawmakers have introduced House Bill 0201, which seeks to allow up to 3% of state funds to invest in Bitcoin.

THE Invoice would apply to key funds, such as the General Fund and the Permanent Minerals Trust Fund, marking a potential milestone in the management of public funds.

If approved, the state treasurer could invest directly in Bitcoin (BTC) via secure custody solutions, registered custodians or exchange-traded products.

To ensure security, the bill imposes strict custody protocols, including encrypted private key storage accessible only to the treasurer. Additionally, annual performance reports covering Bitcoin holdings, stock market valuations and custodial arrangements would be required.

This proposal aligns with Wyoming’s broader membership in blockchain and cryptographic technologies, reinforcing its reputation as a crypto-friendly state. As other states explore similar initiatives, Wyoming could become one of the first to formalize Bitcoin investments for public funds.

Wyoming’s Blockchain Initiative

Returning in December 2024, Wyoming blockchain developers wanted for his support of the government stable coin initiative, “Project WYST”.

The Wyoming Stable Token Commission has issued requests for qualifications (RFQs) to attract blockchain developers for roles in token development, support and other key areas.

Stablecoins, which maintain a 1:1 dollar value, are essential in the $200 billion crypto market. Proposals for the project were due by December 12, with the stablecoin expected to launch on multiple blockchain networks.