Oklahoma’s Bitcoin reserve bill passes State House vote amidst BTC price crash

A Bitcoin reserve strategic bill goes to a full vote after adopting the Oklahoma State House committee, despite the recent BTC drop below $ 90,000.

According to a state document, the BTC reserve strategic bill was recommended by the Oklahoma Chamber Committee. The bill was adopted with a majority vote of 12 to 2. He will now go to the full vote phase in the House of Representatives.

Known as House Bill 1203, the bill would allow the State Treasury to invest 10% of its public funds in Bitcoin (BTC) or other digital assets with a market value of more than $ 500 billion. The news was also shared by the founder and CEO of Satoshi Act Fund, Dennis Porter, on his X account.

“Thanks to the management of Codymaynard15 which brought the SBR bill,” said Porter, granted to the representative Cody Maynard, the official who filed HB 1203.

Despite the victory for the adoption of BTC reserve bills in American states, the cryptocurrency itself has recently dropped, triggering a collapse in the cryptography market. February 25, Bitcoin fell Below $ 90,000, breaking its bearish scheme with a drop of 6.78%. This is the first time that BTC has been below $ 90,000 since November 2024.

At the time of the press, the BTC slowly increased by 1.15% but has still not been able to go back to the $ 90,000 mark. BTC is currently negotiated at $ 89,236, according to data of crypto.News.

Oklahoma has become the last American state to advance its Bitcoin reserve strategic bill. According to the Bitcoin reserve MonitorThere are at least 25 American states that have introduced Bitcoin strategic reserve invoices.

Each state is at different stages of the approval of the legislation, 18 legislation of the states still pending, two still in consideration and five proposals have been rejected.

The Oklahoma Room of Representatives first presented A bill for “strategic BTC reserve” on January 16. However, HB 1203 is not the only act linked to Bitcoin which was introduced into Oklahoma. Previously, on January 9, the Senator of the Oklahoma State Dusty Deevers laid The “Bitcoin Freedom Act” or SB 325. The bill would allow OKLAHOMA workers to be paid in BTC and for companies to receive customer BTC payments.