Oklahoma’s Strategic Bitcoin Reserve Bill Advances to Full Vote

Oklahoma State House Committee Recommends Passage of Strategic BTC Reserve Bill

A Strategic Bitcoin Reserve Bill has taken a significant step forward in Oklahoma after passing in the State House Committee. The bill, known as House Bill 1203, was recommended to pass with a majority vote of 12 to 2 and will now proceed to the full voting stage in the House of Representatives.

The proposed legislation would allow the state treasury to invest 10% of its public funds into Bitcoin or other digital assets at a market value of over $500 billion. This development marks a significant milestone in the adoption of BTC reserve bills in U.S. states.

Bitcoin’s Recent Price Drop

Despite this positive development, Bitcoin itself has recently experienced a decline in value, triggering a collapse in the crypto market. On February 25, Bitcoin fell below $90,000, breaking its bearish pattern with a 6.78% decline. This is the first time Bitcoin has fallen below $90,000 since November 2024.

At press time, Bitcoin has slowly risen by 1.15% but still has not been able to recover to the $90,000 mark. Bitcoin is currently trading at $89,236.

Progress of Bitcoin Reserve Bills in U.S. States

Oklahoma has become the latest U.S. state to progress its Strategic Bitcoin Reserve Bill. According to the Bitcoin Reserve Monitor, at least 25 U.S. states have introduced Bitcoin strategic reserve bills. Each state is at different stages of legislation approval, with:

  • 18 state legislations still pending
  • 2 still in consideration
  • 5 proposals have been rejected

Additional Bitcoin-Related Legislation in Oklahoma

Oklahoma’s House of Representatives first introduced a “strategic BTC Reserve” bill on January 16. Additionally, Oklahoma State Senator Dusty Deevers filed the “Bitcoin Freedom Act” or SB 325 on January 9, which would allow Oklahoma workers to get paid in Bitcoin and for firms to receive Bitcoin payments from clients.

“Thank you to the leadership by CodyMaynard15 who carried the SBR bill,” – Dennis Porter, Satoshi Act Fund founder and CEO, giving credit to Rep. Cody Maynard, the public official who filed HB 1203.

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