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Bitcoin state reserve: there's Oklahoma's proposal
By Davide Grammatica
Oklahoma (U.S.) has introduced the “Strategic Bitcoin Reserve Act,” so that the state can allocate public funds in Bitcoin
More and more states want Bitcoin
The state ofOklahoma (U.S.) has joined the pretenders of a “national” Bitcoin fund , after Pennsylvania and Wyoming. It did so at the proposal of Representative Cody Maynard, who personally introduced the “Strategic Bitcoin Reserve Act, ” to allow the state to allocate a portion of its public funds in Bitcoin.
The initiative is part of the pro-crypto development process called for by newly elected President Donald Trump, who, although he has not yet inaugurated his administration, has already prompted several U.S. jurisdictions to think about new solutions along these lines.
According to the bill, the amount that can be invested in cryptocurrencies cannot exceed 10 percent of the total funds available, but it would allow state treasuries to allocate a significant amount.
“Bitcoin represents freedom from bureaucrats who damage our purchasing power, “ Maynard said. “As a decentralized form of money, BTC cannot be manipulated by government agencies, and it is the ultimate store of value for those who believe in financial freedom.”
Therefore, a new “Bitcoin fund” could meet the new needs of citizens, with reliable returns to be leveraged against the inflationary pressures of the last period.
BTC, government weapon against inflation
The bill is expected to be debated in the legislature next Feb. 3 and, if enacted, would take effect on Nov. 1, 2025.
Amid new macroeconomic turmoil, Bitcoin continues to have the support of U.S. institutions, which throughout 2024 have fueled its bullish rally. And even today, as much as BTC suffers like the entire stock market from concerns about inflation and the Fed’s new monetary policies, it can count on this pro-crypto government “revolution.”
In the last 24 hours, BTC is up 2.5 percent, for a +6.1 percent weekly performance that threatens to regain (and maintain) the $100k mark.
