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Following Texas, Oklahoma is also launching its own Bitcoin strategy. If the Senate approves it, nothing stands in the way of a reserve there.
The Oklahoma Strategic Bitcoin Reserve Bill (HB1203) was passed by the House of Representatives with a vote of 77 to 15.
According to the tracking site Bitcoin Laws, the bill is on par with any potential ambitions in Texas, where a similar bill was already passed on March 6th. Both bills still need to pass the respective state Senate to actually take effect.
If Oklahoma’s bill is finally passed, the state will be allowed to invest up to 10 percent of its public funds in Bitcoin or other digital assets with a market capitalization of over $500 billion.
A total of 39 Strategic Bitcoin Reserve (SBR) bills have been introduced in 23 US states to date. Six of these have already failed, while 33 are still under discussion.
If some of these bills are actually implemented, this could mean up to $23 billion in buying pressure for Bitcoin. This would be independent of any ambitions of the overarching US government. We have summarized the most promising candidates for a Bitcoin reserve among US states in a video article.
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