Oklahoma joins Pennsylvania, Texas, North Dakota and New Hampshire.
It is estimated that 6 other states are also preparing their bills to approach BTC.
Oklahoma became, this Wednesday, January 15, the sixth state in the United States to take a step towards having a state reserve in bitcoin (BTC). After the presentation of the bill 1203 of Representatives, known as the Bitcoin Strategic Reserve Act, this southwestern American state joins the growing list of jurisdictions that consider Bitcoin as a strategic asset.
The proposal, introduced by Rep. Cody Maynard, seeks to allow state pension funds and savings accounts invest a portion of their assets in Bitcoin, with the aim of protecting against inflation. Maynard highlights the decentralized nature of Bitcoin as a network as a key advantage, arguing that the asset offers greater financial stability by operating independently of governments.
“Oklahoma becomes the sixth state to introduce the ‘Strategic Bitcoin Reserve’ policy that allows the state to purchase bitcoin once it becomes law. “That means we are now halfway toward our goal of getting 12 states to submit bills,” commented on X the director of the Satoshi Act Fund, the bitcoiner Dennis Porter.
Reserves in bitcoin, national trend in the US
Law proposals for multiple states in the United States to have their own savings in bitcoin are already a trend in the northern country. The above reflects a growing interest in the public sector to explore the possibilities that bitcoin offers, especially in a context of global economic uncertainty.
Oklahoma thus joins a group of pioneering states in adopting policies related to Bitcoin. Pennsylvania, Texas, North Dakota and New Hampshire are some examples of jurisdictions that have presented similar proposals in recent months, as reported by CriptoNoticias.
The decision of these states to consider Bitcoin as a reserve asset aligns with the strategies of ininvestment from large private sector players, such as BlackRock and Fidelitywho have already incorporated Bitcoin into their portfolios to mitigate macroeconomic risks.
This wave of legislative proposals is generating intense debate in the financial and political community. Proponents of these initiatives argue that Bitcoin can serve as an effective hedge against inflation and diversify the risks of investment portfolios. However, critics warn about the volatility inherent in digital assets and raise questions about the safety of these types of investments for public funds.
