In a landmark move, Wisconsin has become the first U.S. state to invest in bitcoin, underscoring the growing institutional interest in cryptocurrencies. The State of Wisconsin Investment Board, which manages over $156 billion in assets, purchased 94,562 shares of Blackrock’s Ishares Bitcoin Trust, worth nearly $100 million, and also acquired shares of Grayscale’s Bitcoin Trust (GBTC) valued at approximately $64 million. This significant investment, made before the Q1 disclosure deadline of March 15, 2024, highlights the impact of institutional products like Blackrock’s exchange traded fund on the crypto market. Back in 2018, Wisconsin discussed guidelines for cryptocurrency contributions to political campaigns, demonstrating its ongoing engagement with the evolving digital currency landscape.
Wisconsin Pioneers State-Level Bitcoin Investment in the U.S.
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