According to Jinse Finance, Oklahoma's (Strategic Bitcoin Reserve Bill) (HB 1203) has been approved by the House committee and has entered the full voting stage. The bill allows up to 10% of public funds to be invested in BTC or digital assets with a market capitalization exceeding $500 billion.
The bill allows up to 10% of public funds to be invested in BTC or digital assets with a market capitalization exceeding $500 billion. This means that state governments may become long-term holders of Bitcoin. The entry of such institutional-level funds would directly increase the market demand for Bitcoin while sending a long-term bullish signal to the market, especially for eligible large-cap cryptocurrencies.
If Oklahoma passes the bill, it may attract the attention and imitation of other states in the U.S. or international governments. Previously, states like Texas and Wyoming have introduced policies supporting cryptocurrencies. If a 'policy alliance' is formed, it will promote broader institutional-level cryptocurrency adoption, further consolidating the U.S.'s regulatory discourse power in the crypto field.
This bill is not only an innovative attempt at local financial management but also an important milestone for the penetration of cryptocurrencies into the mainstream financial system. Its core impact lies in providing greater legitimacy and practicality to crypto assets through government endorsement, injecting long-term stability into the market. We hope it can be passed soon!