Degen

The Oklahoma State House of Representatives’ Strategic Bitcoin Reserve Bill passed a majority vote in a special committee and will now go to the full House floor for a final vote.

The bill would allow the state treasury to invest 10 percent of its public funds in Bitcoin or other cryptocurrencies with a market value of more than $500 billion. Despite this progress, Bitcoin’s value has recently fallen below $90,000.

Oklahoma is the latest state to advance a strategic bitcoin reserve bill. At least 25 other states have reportedly introduced such bills.

Oklahoma Senator Dusty Deevers has also previously introduced the “Bitcoin Freedom Act,” which would allow workers to receive their paychecks in Bitcoin and allow companies to accept Bitcoin payments from customers.