Wyoming Law Enforcement Association Considers Bitcoin Investment

The Wyoming Highway Patrol Association (WHPA), a nonprofit organization supporting troopers, dispatchers, and civilian support staff of the highway patrol, is reportedly considering adding Bitcoin to its balance sheet. This move is part of a partnership with Bitcoin education platform Proof of Workforce’s “Get Off Zero” initiative, which aims to help labor unions, pension funds, and others learn about Bitcoin and its benefits.

According to Proof of Workforce founder Dom Bei, a portion of the Bitcoin funds could potentially be held in self-custody. Bei explained that Bitcoin is a reliable and stable long-term tool for workers and wage-earners, as the unpredictable fiat-based monetary system continues to expand and change. If the WHPA goes ahead with this plan, it could be the first time a law enforcement association in the United States has adopted Bitcoin (BTC).

The initiative has received full support from Wyoming Senator Cynthia Lummis, who introduced the Bitcoin reserve bill at the federal level last July. Lummis stated, “This is so cool. The goal with this stuff is to help Americans access tools to realize and protect the full value of their effort, their blood, their sweat, and their tears.” She also expressed her enthusiasm for Wyoming citizens being protected by Bitcoin, describing it as “freedom-focused innovation.”

WHPA vice president Austin Bluemel did not provide many details about the initiative but mentioned that the organization is excited to explore Bitcoin as a network and asset to further support its members. Wyoming has also introduced its own strategic Bitcoin reserve bill, which would invest up to 3% of the state’s funds in Bitcoin. If the total market value of Bitcoin investments surpasses the 3% limit, the state treasurer is not permitted to sell or reduce the size of the Bitcoin allocation to comply with the rule.

Several other states, including Arizona, Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, and Utah, have also introduced bills for a Bitcoin reserve. Utah has made the most regulatory progress, being the only state to have a Bitcoin reserve bill passed through the House. Satoshi Action Fund CEO Dennis Porter has also tipped Utah to be the first US state to adopt a Bitcoin reserve, citing the state’s political momentum.