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Oklahoma votes for state Bitcoin reserve
In another significant development for the digital asset space, Oklahoma has voted to create its own state Bitcoin reserve. The Oklahoma Strategic Bitcoin Reserve Bill (HB1203) was passed by the House of Representatives with a vote of 77 to 15.
If approved by the Senate, this move would allow the state to invest up to 10% of its public funds in Bitcoin or other digital assets with a market capitalization of over $500 billion. This decision comes hot on the heels of Texas, which passed a similar bill just last week.
The introduction of these Strategic Bitcoin Reserve (SBR) bills has been gaining momentum across various US states. To date, a total of 39 SBR bills have been introduced in 23 different states. Of these, six have already failed to gain traction, while 33 are still under consideration by the relevant authorities.
If some of these proposed laws do come into effect, it could put up to $23 billion worth of buying pressure on the digital asset market. This development is significant as it would be independent of any potential actions taken by the US government.
For now, Oklahoma’s bill needs to clear its Senate before becoming a reality. However, if successful, this move would mark another major milestone in the growing adoption of cryptocurrencies across the United States.
The Bitcoin News
Source: https://thebitcoinnews.com/oklahoma-votes-for-state-bitcoin-reserve/
