On a Monday that will surely be remembered by future historians—or perhaps by Bitcoin enthusiasts nursing their morning coffee—the Oklahoma House of Representatives, in a fit of either brilliance or madness, passed House Bill 1203. This bill, as if plucked from the fevered dreams of a Wall Street trader, permits the state to dabble in the volatile world of cryptocurrency, establishing a strategic Bitcoin reserve. Yes, you read that correctly: Oklahoma is now officially flirting with digital gold. 🪙
The bill, championed by a chorus of Republican legislators, allows the state to invest in digital assets with a market capitalization exceeding $500 million. At present, this means Bitcoin, the king of cryptocurrencies, reigns supreme. One might wonder if the legislators were inspired by the glittering allure of blockchain or simply by the desire to spice up their financial portfolios. 🤔
Originally, the proposal was bold—some might say reckless—allowing up to 10% of the state’s funds to be funneled into cryptocurrencies. However, after a moment of collective hesitation, the cap was prudently (or perhaps cowardly) reduced to 5%. State Rep. Cody Maynard, a Republican from Durant, assured his colleagues that this limit would safeguard against the wild swings of the crypto market. One can only imagine the sleepless nights of legislators pondering Bitcoin’s infamous volatility. 😅
the Sooner State is betting big on the blockchain. 🎲
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2025-03-25 09:24