BTC becomes a new reserve darling in multiple US states, with Oklahoma, Texas, and Pennsylvania pushing for legislation successively.

Several states in the United States are pushing for the BTC Strategic Reserve Act, including Oklahoma, Texas, and Pennsylvania. They have proposed to include BTC in retirement funds and state reserve assets to combat inflation and economic fluctuations, demonstrating the potential and challenges of digital assets.

(Former Thai Prime Minister Thaksin: BTC has become a global trend, urging trial of BTC payments, CBDC to solve economic problems)

Oklahoma proposed the 'Strategic BTC Reserve Bill'

Cody Maynard, a Republican representative in the Oklahoma House of Representatives, recently proposed House Bill No. 1203, the Strategic Bitcoin Reserve Act, which aims to allocate a portion of the state's retirement funds and state savings accounts to BTC as a hedge against inflation.

Councilor Maynard stated, "BTC represents freedom from government control, and we will no longer weaken purchasing power due to excessive currency printing by the authorities."：

BTC is the ideal value storage method for those who believe in financial freedom and sound monetary principles. By diversifying our state's savings and retirement funds into digital assets, we will ensure a stronger financial future for our state.

In addition, 'these investments will be carefully managed by professional fund managers, bringing reliable returns to the public.'

Just a few days ago, Senator Dusty Deevers, also a Republican and from the same state, proposed the BTC Freedom Act, which aims to allow employees and residents of the state to choose to receive their salaries in BTC and promote businesses to accept BTC as a payment option.

(US Senator from Oklahoma introduces the 'BTC Freedom Act': Bringing BTC into wages and everyday payments)

Bitcoin reserve bills are popping up all over the world.

Not only the United States, but also sovereign countries such as Bhutan and Switzerland, as well as large corporations or banks such as MicroStrategy and Intesa Sanpaolo in Italy, are increasingly using BTC as a financial reserve. This trend is gradually gaining momentum.

(Meta shareholders urge Zuckerberg to use part of the funds as Bitcoin reserve: a16z supports BTC, what are you still thinking about)

At the same time, in addition to Oklahoma, several other states in the United States are also pushing for related legislation to include BTC as part of the state's asset allocation.

Pennsylvania

In November last year, Pennsylvania state representative Mike Cabell proposed a BTC strategic reserve proposal, suggesting that the state treasury invest up to 10% of its assets in BTC:

BTC is an important means to protect purchasing power. We can emulate the diversified strategies of asset management giants such as BlackRock or Fidelity to hedge macroeconomic risks with BTC.

Texas

In Texas, state representative Giovanni Capriglione also submitted the BTC Reserve Act in December last year, requesting that the Texas financial regulator hold BTC as a reserve asset for at least five years.

Yesterday, Senator Charles Schwertner expressed support for this and also proposed a similar BTC reserve bill to establish a special fund separate from the general revenue fund, to purchase and accept BTC donations from the public, with a cap of 1% of the general revenue fund:

To ensure secure storage and management, the law also requires mandatory cold wallet storage and regular audits to ensure transparency and security.

New Hampshire

A few days ago, Representative Keith Ammon also introduced a similar bill, using the term 'digital assets' to imply that the state may expand its investment scope beyond BTC.

North Dakota

In addition, the BTC reserve bill, promoted by several North Dakota Senators and Representatives, has gained support from 11 co-sponsors in the state, demonstrating its popularity within the local government.

With more and more states pushing for BTC strategic reserve legislation, BTC's role as a hedge asset is receiving unprecedented attention. However, its high Fluctuation and lack of stable income are still one of the main obstacles to large-scale adoption.

(Storing BTC to repay US debt, think too much, according to think tank experts)

This article BTC becomes a new favorite in several states in the United States, Oklahoma, Texas, and Pennsylvania are pushing for legislation one after another, which first appeared in Chain News ABMedia.