Wyoming patrol considers Bitcoin. The Wyoming Highway Patrol Association has embraced the Proof of Workforce’s “Get Off Zero” initiative and is said to be exploring adding Bitcoin to its balance sheet.
The Wyoming Highway Patrol Association (WHPA), a nonprofit organization that serves the needs of the Wyoming Highway Patrol troopers, dispatchers and civilian support staff, is said to be considering adding Bitcoin to its balance sheet.
The plan involves a collaboration with Bitcoin education resource Proof of Workforce, whose “Get Off Zero” initiative aims to educate labour unions, pension funds and other organizations about Bitcoin and its advantages, founder Dom Bei noted in a statement on Feb. 12.
Some of those Bitcoin funds could be self-custodied, Bei said.
When an inflating monetary system based on securities continues to introduce uncertainty to wage earners, Bei asserted Bitcoin is a sound and enduring long-term instrument that workers can rely on.
Wyoming patrol considers Bitcoin. Senator Cynthia Lummis Backs WHPA’s Bitcoin Initiative
Wyoming Senator Cynthia Lummis who introduced the Bitcoin reserve bill federally last July hailed full support of the plan.
“This is so cool,” she said. “This stuff aims to enable Americans to access tools to realise and secure as much value for blood, sweat and tears as they put in.”
“Glad to see Wyoming citizens who keep us safe, protected by Bitcoin. “That’s freedom-oriented innovation,” Lummis added.
WHPA vice president Austin Bluemel didn’t go into much detail about the initiative, other than saying that it is “excited to explore Bitcoin as a network and an asset, to evaluate ways it can further support our organization and its members,” according to The Street.
U.S. States Move Toward Bitcoin Reserves Amid Growing Interest
On Jan. 17, Wyoming filed its own strategic Bitcoin reserve bill that would allocate up to 3% of the state’s funds to Bitcoin.
If Bitcoin investments exceed 3% of the unit’s total market value, the state treasurer cannot divest or reduce the size of the unit’s Bitcoin holdings to bring Bitcoin investments into compliance with the rule.
Other states that have filed Bitcoin reserve bills include Arizona, Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas and Utah.
Utah is the most successful in regulations, having its Bitcoin reserve bill passed into the House.
Dennis Porter, Satoshi Action Fund CEO has also touted Utah as the first US state to use a Bitcoin reserve, pointing out the state’s shorter calendar legislative window and “political momentum.