Oklahoma has become the latest state to formally consider creating a strategy Bitcoin reserve on Wednesday, following President-elect Donald Trump's assertion that the federal government should create a reserve Similar stock.

Cody Maynard, a Republican member of the Oklahoma House of Representatives, introduced legislation today that, if approved this upcoming session, would allow government savings accounts and retirement funds to invest in digital assets like Bitcoin starting in November.

the invoice The Oklahoma State Treasurer is permitted to invest public funds in any digital asset with an average market capitalization of more than $500 billion during the preceding calendar year. Currently only Bitcoin- which has a market capitalization of $1.97 trillion - meets this requirement. nearest cryptocurrency, Ethereumsits at a valuation of $410 billion as of writing.

The bill also allows the Oklahoma Treasurer to purchase subsidized assets stablecoins. However, at no time can the cumulative amount of digital assets held by a state-linked account exceed 10% of the total amount of public funds in said account.

Wednesday's announcement of the new legislation explicitly linked "President Trump's vision for digital assets and financial stability." Since July, Trump committed On the presidential campaign trail to create a federal stockpile of Bitcoin aimed at diversifying the US Federal Reserve.

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

Oklahoma is now The sixth state It is preparing to soon consider whether it should create its own Bitcoin reserves.

Since the November election, lawmakers in Texas, Pennsylvania, Ohio and New Hampshire have also proposed legislation with language similar to the bill Rep. Maynard introduced today, while North Dakota last week Make a decision Before the potential bill.

Modified by Andrew Hayward