- Wyoming and Massachusetts explore Bitcoin integration into state asset reserves with draft legislation.
- Polymarket predicts a 56% chance of a U.S. Bitcoin reserve in Trump’s first 100 days.
As the adoption of Bitcoin [BTC] continues to grow, an increasing number of U.S. states are exploring the possibility of incorporating it into their public asset reserves.
States joining the Bitcoin Reserve race
Wyoming and Massachusetts have recently joined the list of states considering Bitcoin-backed initiatives. Lawmakers introduced draft legislation in both states.
By January 2025, at least 15 states are poised to include Bitcoin in their reserves. Before Wyoming and Massachusetts, Texas and Oklahoma also introduced legislation permitting investments in stablecoins and other top-performing cryptocurrencies.
Its impact on Wyoming
If approved, Wyoming could soon include Bitcoin in its state-managed investment portfolios, totaling nearly $30.8 billion in assets in 2024.
The bill would permit Bitcoin to be added to key funds such as the general fund, the Permanent Mineral Trust Fund, and the Permanent Land Fund.
Among these, the Permanent Wyoming Mineral Trust Fund is the largest, holding approximately $11.5 billion. If the bill passes, Wyoming could allocate over $300 million to Bitcoin investments, marking a significant step towards diversifying its asset reserves.
This initiative has garnered strong support, including backing from influential figures like Senator Cynthia Lummis.
Massachusetts’ Bitcoin bill
In a similar move, Massachusetts Senator Peter Durant has introduced Senate Docket 422 (SD422), titled “An Act Relative to a Bitcoin Strategic Reserve.”
The proposed bill would enable the Massachusetts State Treasurer to invest up to 10% of the annual deposits in the Commonwealth Stabilization Fund into Bitcoin or other digital assets.
With the fund valued at over $8 billion as of 2024, the state could allocate up to $800 million to Bitcoin under this proposal, positioning Massachusetts as one of the latest states exploring the integration of digital assets into their financial strategies.
Source: Mario Nawfal’s Roundtable/X
Future of Bitcoin in the U.S.
Polymarket data currently suggests a 56% chance that President-elect Donald Trump will establish a Bitcoin reserve within his first 100 days in office, indicating a real possibility of this initiative unfolding soon.
Further fueling the momentum, Coinbase CEO Brian Armstrong publicly supported the proposal, advocating for the creation of a U.S. strategic reserve in Bitcoin.
Armstrong’s endorsement adds weight to the growing call for integrating Bitcoin into the country’s financial framework.
In a blog post on Coinbase, Armstrong stated:
“The next global arms race will be in the digital economy, not space.”
Way ahead
The crypto community is increasingly optimistic about President Donald Trump’s potential pro-crypto executive actions, particularly on his first day in office.
Among the most anticipated moves are the possible ‘freezing’ of crypto lawsuits and the establishment of a Bitcoin Reserve (SBR).
On the 17th of January, Polymarket’s odds of a U.S. SBR rose to 44%, following reports that Trump would initiate a ‘national Bitcoin stockpile’ and make crypto a ‘national priority.’
These developments have sparked growing enthusiasm for the role Bitcoin could play in the nation’s economic future.
