Massachusetts and Wyoming Propose Bills for Strategic Bitcoin Reserves
Highlights:
- Massachusetts and Wyoming introduce bills to create Bitcoin reserves for their states.
- Massachusetts plans to invest 10% of its $9 billion fund in Bitcoin, while Wyoming’s bill could allocate $300 million.
- As of January, at least 15 U.S. states plan to include Bitcoin in their asset reserves.
Lawmakers in Massachusetts and Wyoming have introduced bills to allow state investments in Bitcoin, raising the total to eight U.S. states with such proposals. As of January, at least 15 U.S. states plan to include Bitcoin in their asset reserves. These developments coincide with rising betting odds on Kalshi and Polymarket, suggesting that Trump may establish a strategic Bitcoin reserve after taking office on Jan. 20.
Massachusetts State Senator Peter Durant introduced a bill to create a Bitcoin treasury, making it the eighth U.S. state to propose legislation. The proposed “Commonwealth Bitcoin Strategic Reserve” seeks to invest up to 10% of the state’s $9 billion stabilization fund in BTC and other digital assets.
JUST IN: 🇺🇸 Massachusetts Senator Peter Durant introduces legislation for a Strategic #Bitcoin Reserve. pic.twitter.com/i1KZ3lDjTH
— Bitcoin Magazine (@BitcoinMagazine) January 17, 2025
The legislation states that reserve funds must be unused and not affect current financial obligations. Durant clarified that the reserve would complement, not replace, traditional investments. The proposal also allows the state treasury to loan Bitcoin and other assets, generating extra returns while balancing financial risks
The Massachusetts bill allows the use of qualified custodians or exchange-traded products (ETPs) to manage digital assets. This reflects the growing acceptance of cryptocurrencies in business. Bitcoin adoption is rising, with companies like MicroStrategy, a major Bitcoin investor, planning to increase its share capital to buy more BTC.
8 states have officially introduced Strategic Bitcoin Reserve legislation!
More are coming.
The winning has only just begun. 🇺🇸
— Dennis Porter (@Dennis_Porter_) January 17, 2025
Wyoming Lawmakers Propose House Bill 201 to Invest State Funds in Bitcoin
Wyoming lawmakers, spearheaded by Representative Jacob Wasserburger, have introduced House Bill 201, which would permit the state to invest up to 3% of its public funds in Bitcoin.
If approved, this legislation could include Bitcoin in Wyoming’s state-managed assets, which totaled nearly $30.8 billion last year. The bill would enable Bitcoin to be added to the general fund, permanent mineral trust fund, and permanent land fund portfolios. The Permanent Wyoming Mineral Trust Fund, the largest of these funds, holds close to $11.5 billion. The state could invest more than $300 million in Bitcoin if approved.
Wyoming Takes Bold Step Toward Bitcoin Reserve: Senator Lummis
“Wyoming took its first bold step toward a strategic Bitcoin reserve,” said Senator Cynthia Lummis in a Jan. 17 X post. Lummis, a prominent Bitcoin advocate who presented the Bitcoin Strategic Reserve bill to the US Senate in July 2024, supported Wyoming representative Jacob Wasserburger’s legislation. The bill aims to allow permanent funds to be allocated to Bitcoin. Lummis praised the forward-thinking approach, noting that it would benefit Wyoming and help the state lead the nation in financial innovation.
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
15 States to Pursue Bitcoin Strategic Reserves, Says Dennis Porter
Wyoming and Massachusetts are the newest states to introduce Bitcoin-related legislation, joining eight others since December 2024. Representatives Mike Cabell, Giovanni Capriglione, and Derek Merrin proposed state Bitcoin investments in Pennsylvania, Texas, and Ohio in December. New Hampshire and North Dakota followed with similar initiatives earlier this month.
Dennis Porter, CEO of Satoshi Action Fund, initially predicted that 12 states would seek Bitcoin strategic reserves this year. However, on January 17, he updated his prediction, confirming that up to 15 states would implement the strategy.
I can confirm that up to 15 states will be working on ‘Strategic Bitcoin Reserve’ legislation in 2025.
— Dennis Porter (@Dennis_Porter_) January 17, 2025
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Syed Ali Haider
Syed Ali Haider is a contributing crypto writer for Crypto2Community. He is a crypto and blockchain journalist with over six years of experience. Syed Ali is a Blockchain enthusiast and writer passionate about enhancing the acceptance, adoption, and integration of Blockchain technology worldwide. He has also advocated for digital freedom and cybersecurity for many years. Haider has been featured in a number of high-profile crypto and finance outlets, including Coincult and more.
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