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  • Oklahoma introduces strategic Bitcoin reserve act

    Oklahoma introduces strategic Bitcoin reserve act

    • Oklahoma joins Texas, Pennsylvania, Ohio, New Hampshire and North Dakota in having Bitcoin reserve proposals.
    • State savings accounts and pension funds will have the nod to invest in BTC if the bill passes.

    Oklahoma is the latest US state to eye a strategic Bitcoin reserve after Rep. Cody Maynard officially introduced a ‘Strategic Bitcoin Reserve Act.’

    On Wednesday, January 15, 2025, Rep. Cody Maynard, announced the introduction of the groundbreaking proposal that could see Oklahoma embrace sound money with addition of BTC to state’s strategic reserve.

    “Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said. “As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.”

    Sixth US state with a BTC reserve proposal

    The announcement follows similar initiatives in Texas, Pennsylvania, Ohio, New Hampshire and North Dakota. With Oklahoma taking this step, six US states are now actively looking at bills aimed at incorporating BTC into their financial systems.

     “This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard continued. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.”

    President Donald Trump supports the idea of a US bitcoin reserve, a move that has legislators optimistic the new administration will make America the hub of crypto and BTC. US Senator Cynthia Lummis recently introduced the Bitcoin Act, which seeks to have the US government add BTC to its strategic reserve.

    Oklahoma’s new bill seeks to have the state’s savings accounts and pension funds invest in Bitcoin.

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  • Oklahoma senator files Bitcoin Freedom Act enabling wages in BTC

    Oklahoma senator files Bitcoin Freedom Act enabling wages in BTC

    metaplanet-buys-bitcoin
    • The Bitcoin Freedom Act lets Oklahomans accept their wages in Bitcoin
    • Oklahoma State Senator Deevers said Washington is “ruining the US dollar”
    • The Bitcoin Freedom Act is eligible for consideration in the 60th legislative session beginning on February 3

    Oklahoma State Senator Dusty Deevers has filed legislation allowing employees to receive wages in Bitcoin and businesses to accept Bitcoin payments.

    Introducing the Bitcoin Freedom Act, Deevers said: “In a time when inflation is eroding the purchasing power of hard-working Oklahomans, Bitcoin provides a unique opportunity to protect earnings and investments.”

    Deevers continued: “As Bitcoin continues to rise and the value of the dollar continues to be printed away in Washington D.C., Oklahoma must act to protect our people.”

    The bill, known as SB325, states under section 4 that: “Any employee of this state, business, corporation, other entity, and resident of this state may negotiate and receive payment and compensation, including salaries, wages, and other forms of compensation, in Bitcoin.”

    Embracing the future of finance

    Deevers pointed out that Bitcoin is becoming increasingly seen as a hedge against inflation, unlike traditional currencies such as the US dollar. Taking to X, Deevers posted: “If Washington DC can ruin something, it likely will. And it is certainly ruining the US dollar.”

    Continuing, Deevers wrote: “This small but possibly revolutionary change has the potential to offset the harms suffered due to inflation and make Oklahoma a national leader who embraces the future of financial technology.”

    Deevers also praised President-elect Donald Trump who spoke at Bitcoin events during his presidential election.

    “Bitcoin has arrived into the mainstream of our economy and is unquestionably a significant part of the financial future,” he added.

    The Bitcoin Freedom Act is eligible for consideration in the 60th legislative session beginning on February 3.

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