West Virginia Lawmaker Introduces Bill to Allow State Crypto Investments

A West Virginia lawmaker has introduced legislation aimed at authorizing state public funds, including state pension and retirement funds, to invest a controlled portion of their assets into cryptocurrencies and other digital assets. The move is intended to diversify the state’s financial portfolio and explore higher-yield investment avenues.

The proposed bill seeks to amend existing state code that defines permissible investments for public bodies, explicitly adding digital currencies as viable assets under strict financial oversight. While the specific limits are yet to be finalized, proponents suggest that the legislation would cap cryptocurrency exposure at a low percentage of the total fund value—typically between 1% and 5%—to adhere to established risk mitigation standards.

Supporters argue that allocating a small percentage of assets to Bitcoin or other recognized digital currencies offers a hedge against traditional inflation and allows the state to capitalize on the substantial growth potential of the decentralized finance sector. Furthermore, the initiative is seen as a step toward establishing West Virginia as a leader in financial technology adoption.

The bill must now pass through several legislative committees for review and debate before it can be brought to a full floor vote. If enacted, West Virginia would become one of the few states in the U.S. authorizing direct public investment in volatile digital assets.

Source: West Virginia lawmaker introduces bill to allow state crypto investments