FameEX Hot Topics | University of Wyoming Launches Bitcoin Research Institute

The University of Wyoming is set to launch the UW Bitcoin Research Institute in August, dedicated to providing “high-quality peer-reviewed” studies about Bitcoin. Bradley Rettler, a Bitcoin activist and Associate Professor at the University of Wyoming, announced the new institute on X on July 28 and will serve as its director.

Rettler criticized a flawed 2018 study by University of Hawaii Professor Camilo Mora, which claimed Bitcoin emissions could increase global warming by 3.6° Fahrenheit (2 Degrees Celsius) by 2048. He pointed out that the study did not account for the difficulty adjustment and block size cap, leading to inaccuracies in journalism and policy. Rettler emphasized that Bitcoin's complexity often leads to misinformation from academics to journalists.

Andrew M. Bailey, lead author of “Resistance Money: A Philosophical Case for Bitcoin,” is one of the institute’s professors, with Rettler also contributing to the book. The Bitcoin Research Institute will officially open in August with the start of the Fall semester for 2024-2025. It will host annual summer workshops, offer academic prizes, and conduct weekly seminars.

“We allocate 4% of our investments to Bitcoin, so if you donate Bitcoin, we will not sell it,” Rettler explained.

Wyoming is becoming a leading Bitcoin state in the U.S., largely due to pro-Bitcoin Senator Cynthia Lummis and Caitlin Long, founder and CEO of Custodia Bank, which provides Bitcoin custody solutions. Lummis announced a strategic Bitcoin Reserve bill at the Bitcoin 2024 conference in Nashville on July 27, proposing that the U.S. purchase 5% of the 21 million Bitcoin that will ever exist. “It can be used for one purpose, to reduce our debt,” Lummis stated during her keynote speech.

In February 2023, Wyoming lawmakers passed a bill preventing state courts from forcing individuals to disclose their digital asset private keys and providing a legal framework for decentralized autonomous organizations. With this new institute, the University of Wyoming aims to foster deeper understanding and innovation in Bitcoin, contributing to the state's growing reputation as a hub for cryptocurrency and blockchain technology.

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