After Elon Musk invested $ 1.5 billion in the cryptocurrency Bitcoin with Tesla, he received an invitation from US Senator Cynthia Lummis to move to her home state of Wyoming. According to the politician, this should soon become one of the most attractive US states for crypto and blockchain companies.
The hype surrounding the Bitcoin entry from Elon Musk’s company Tesla can still be felt
US Senator Cynthia Lummis spoke up via Twitter and invited the Tesla CEO to move to her hometown of Wyoming. She said :
Hey @elonmusk, I heard that Wyoming is one of the most business-friendly states in the nation and has the best digital asset laws in the United States. Have you ever thought about moving?
Lummis also retweeted a tweet from Italian Formula announcing the purchase of $ 1.5 billion in Bitcoin. Lummis joined the US House of Representatives from 2009 to 2017. She has been in the US Senate since January 2021. During her tenure at the time, cryptocurrencies comprised her political focus.
What are the benefits of Wyoming Elon Musk?
What exactly will make Wyoming one of the most attractive US states for crypto and blockchain companies, her spokeswoman, Abegail Cavein, explained in an interview with Cointelegraph . Accordingly, the city would reward efforts in the area of digital assets separately in the future. Another benefit is that Wyoming doesn’t levy any personal state income tax. Meanwhile, she also explained what she values about Tesla and its CEO:
Tesla is all about innovation, and it’s great to see this American success story recognize the value of digital assets. Should Elon Musk or his companies ever need a new home, they couldn’t find a better place than Wyoming.
In addition, the Kraken crypto exchange received a license to operate as a bank in the USA in September last year. Wyoming approved the exchange to act as a Special-Purpose Depositary Institution (SPDI) – a bank that can both accept deposits and hold assets. This was requested by the company Avanti. BTC ECHO reported at the time. At the time, Caitlin Long, founder and CEO of Avanti, said:
Wyoming is keen to diversify its economy to create jobs, capital, and revenue from outside the state.