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Oklahoma Representative Cody Maynard announced the introduction of the Bitcoin (BTC) Strategic Reserve Act on Wednesday.

The move comes amid expectations that President-elect Donald Trump will pass similar legislation at the federal level.

Senator Cynthia Lummis has previously introduced the Bitcoin Act in the Senate and has been in discussions with key members of the Trump administration about its implementation.

“Bitcoin is a symbol of freedom from bureaucrats who print money and reduce our purchasing power,” Maynard said in explaining the bill, which is scheduled to be considered in the legislative session on February 1, adding that the fund could act as a hedge against inflation.

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