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Committee rejects proposal to let state invest up to 3% of permanent funds in Bitcoin
Summary
After testimony from the state treasurer's office and cryptocurrency advocates, the committee voted 1–7 (one aye, seven nos, one excused) against a bill that would have allowed up to a 3% allocation of specified permanent funds into Bitcoin or Bitcoin ETFs; members cited existing investment processes and volatility concerns.
The Minerals, Business & Economic Development Committee voted down a bill that would have permitted the state treasurer to invest up to 3% of the Permanent Wyoming Mineral Trust Fund and the Permanent Land Fund in Bitcoin or Bitcoin-linked exchange-traded funds.
Sponsor Representative Jacob Wasserburger said the bill was intended to give the treasurer the option — not a mandate — to allocate up to 3% of the two permanent funds to Bitcoin to preserve purchasing power against inflation. Wasserburger cited a study that found a modest allocation to Bitcoin would have outperformed a treasury-only allocation from 2018–2024.
State Treasurer Curt…
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