Some six U.S. states, including Oklahoma and New Hampshire, have proposed Bitcoin reserve laws.
Oklahoma has formally entered the competition to amass Bitcoin (BTC) in its state treasury, as suggested by cryptocurrency advocate Dennis Porter. In response, Oklahoma’s House of Representatives has proposed a bill for establishing a “Bitcoin Strategic Reserve.
Oklahoma is moving forward as the sixth state to adopt a ‘Strategic Bitcoin Holdings’ policy, allowing them to purchase Bitcoin upon the bill’s passage. This brings us to the midway point in our quest to have 12 states introduce such bills.
Dennis Porter on X
BREAKING: Legislation proposing a ‘Strategic Bitcoin Depository’ is under consideration in the state of Oklahoma.
— Dennis Porter (@Dennis_Porter_) January 15, 2025
Since the re-election of Donald Trump as the 47th U.S. President in November, several states – such as Oklahoma, New Hampshire, Ohio, Texas, Pennsylvania, and North Dakota – have swiftly moved to enact a Secure and Fair Ballot (SBR) measure independently, outpacing Federal legislators in their actions.
In relation to the ongoing movement, it’s worth mentioning that Porter, a significant player, believes an executive order from President Trump is the most likely route for creating a national Bitcoin reserve. This move could occur before any individual states take similar actions.
Notable figures such as Anthony Pompliano are advocating for President-elect Trump to fulfill his promise regarding Bitcoin reserves during the initial 100 days of his presidency.
Performing this action could propel the value to unprecedented peaks, further validating Bitcoin as a credible choice for national reserve assets.
While some view Bitcoin as a promising investment category, others such as Cliff Asness from AQR Capital Management express doubts. According to crypto.news, Asness considers Bitcoin a potential bubble that could collapse if it fails to demonstrate significant real-world use cases.
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2025-01-16 17:50