- Oklahoma joins Texas, Pennsylvania, Ohio, New Hampshire and North Dakota in providing Bitcoin reserves.
- State financial savings accounts and pension funds will likely be given the inexperienced mild to spend money on BTC if the invoice passes.
Oklahoma is the most recent US state to contemplate a strategic Bitcoin reserve after Rep. Cody Maynard formally launched a “Bitcoin Strategic Reserves Act.”
On Wednesday, January 15, 2025, Consultant Cody Maynard introduced the introduction of a groundbreaking proposal that might see Oklahoma undertake a sound forex with the addition of BTC to the state's strategic reserve.
“Bitcoin represents freedom from bureaucrats who scale back our buying energy,” Maynard stated. “As a decentralized type of cash, Bitcoin can’t be manipulated or created by authorities entities. It’s the final retailer of worth for individuals who consider in monetary freedom and good monetary ideas.
Sixth US state with BTC reserve proposal
This announcement follows comparable initiatives in Texas, Pennsylvania, Ohio, New Hampshire and North Dakota. As Oklahoma takes this step, six US states at the moment are actively contemplating payments to combine BTC into their monetary methods.
“This invoice is about defending the hard-earned {dollars} of Oklahoma residents,” Maynard continued. “By diversifying our state’s financial savings and retirement funds into digital belongings, we not solely guarantee a stronger monetary future for our state, however we additionally display Oklahoma’s management in adopting progressive finances insurance policies .”
President Donald Trump is backing the concept of a U.S. bitcoin reserve, a transfer that leaves lawmakers optimistic that the brand new administration will make America the hub for crypto and BTC. US Senator Cynthia Lummis not too long ago launched the Bitcoin Act, which goals to drive the US authorities so as to add BTC to its strategic reserve.
Oklahoma's new invoice goals to have the state's financial savings accounts and pension funds spend money on Bitcoin.
