A senator has urged Elon Musk to move to Wyoming as it has the ‘best laws’ for bitcoin and is ‘the perfect state for innovation’

  • Date: 13-Feb-2021
  • Source: Business Insider
  • Sector:Technology
  • Country:Middle East
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A senator has urged Elon Musk to move to Wyoming as it has the ‘best laws’ for bitcoin and is ‘the perfect state for innovation’

A Wyoming senator has urged Tesla CEO Elon Musk to move to her state, because it has the "best laws" for bitcoin and other digital currencies. 

"He's a great innovator and Wyoming is the perfect state for innovation," Senator Cynthia Lummis told Yahoo Finance in an interview published on Friday. 

She added: "We want to make sure that we have a place for people who understand the benefits of Bitcoin to locate their business."

Read more: The CIO of a $700 million crypto asset manager breaks down why Elon Musk's gradual acceptance of bitcoin means the digital currency has room to run “” and shares why it's launching an over-the-counter fund

After Musk announced Tesla's $1.5 billion investment in bitcoin, the cryptocurrency skyrocketed, breaking above $48,000 for the first time. 

On February 8, after Tesla's announcement, Lummis sent an invitation to Musk via Twitter. She said Wyoming was "one of the most business friendly states in the nation."

"Ever think about relocating?" Lummis added. 

She told Yahoo Finance reporter Jessica Smith that she hadn't heard back from Musk but that she was "dying to have a dialogue with him." 

On Thursday, Lummis, a member of the Banking, Housing and Urban Affairs Committee, said on Twitter that the cryptocurrency