Just In: Oklahoma Senator Proposes Bitcoin Freedom Act to Fight Inflation

by

Oklahoma State Senator Dusty Deevers has presented a fresh idea, the Bitcoin Freedom Act (SB325), designed to offer Oklahomans diverse monetary choices as a response to escalating inflation.

In simpler terms, during the 60th legislative session starting on February 3rd, a proposal has been submitted that, if passed, will offer Oklahoma workers the choice to be paid in Bitcoin on a voluntary basis. Additionally, it would grant businesses within the state the ability to accept Bitcoin as a form of payment.

Oklahoma Senator Proposes Bitcoin Freedom Act

Senator Deevers, a Republican hailing from Elgin, has raised questions about inflation and its effects on people’s buying power. In a public statement, he argued that the financial policies coming out of Washington D.C., particularly excessive spending and money printing, are gradually devaluing the U.S. dollar. He presented Bitcoin as a currency not controlled by any central authority, with a fixed amount in circulation, which might serve as a viable option for Oklahomans to safeguard their earnings and investments against inflation.

Deevers stated that Bitcoin offers an exceptional method for safeguarding income and assets. Given the ongoing devaluation of the dollar due to inflation, it’s crucial for Oklahoma to take steps to shield its citizens from this financial risk.

As a crypto enthusiast, I find myself drawn more and more to Bitcoin, the digital currency that runs on blockchain technology. Unlike traditional paper money (fiat currencies), its value isn’t diluted by increasing the supply or through monetary policies. This makes it an attractive option for those of us who are wary about inflation eroding the purchasing power of our savings.

This Is A Developing Story, Please Check Back for More

Read More

2025-01-09 01:15