A strategic bitcoin reserve bill is moving towards a full vote after passing the Oklahoma State House Committee, despite the recent BTC decline is below $ 90,000.
According to a state document, it has been recommended to pass the Strategic BTC Reserve Bill by the Oklahoma State House Committee. Bill was passed with a majority of 12 to 2 with votes. It will now move forward in the full voting phase in the House of Representatives.
House Bill is known as 1203, the bill will allow the state’s Treasury to invest 10% of its public funds at a market price of more than $ 500 billion in Bitcoin (BTC) or other digital assets. This news was also shared on his X by Dennis Porter, founder and CEO of Satoshi Act Fund. Account,
“Thanks to the leadership by Codymaynard15, who ran the SBR bill,” Porter said, giving credit to rape Kodi Menard, public officials who filed HB 1203.
Despite the victory to adopt the BTC reserve bills in the US states, Cryptocurrency recently dropped the price, leading to a decline in the Crypto market. On 25 February, bitcoin fell below $ 90,000, declining 6.78% to break its recession pattern. This is the first time BTC has fallen below $ 90,000 since November 2024.
At the press time, the BTC is gradually increased by 1.15%, but is still not able to return to the mark of $ 90,000. According to data from crypto.news, BTC is currently trading hands at $ 89,236.
Oklahoma has become the latest American state to carry forward its strategic bitcoin reserve bill. Bitcoin according to reserve monitorThere are at least 25 American states that have introduced Bitcoin Strategic Reserve Bills.
Each state law is in different stages of approval, 18 state legislations are still pending, two are still in consideration, and five proposals have been rejected.
Oklahoma’s Representative Assembly first introduced the “Strategic BTC Reserve” bill on 16 January. However, HB 1203 is not the only bitcoin-related Act introduced in Oklahoma. Earlier, on 9 January, the “Bitcoin Freedom Act” or SB 325 was filed by the Oklahoma State Senator Dusty Davors. The bill will allow Oklahoma workers to pay in BTC and receive BTC payments from customers for firms.
