Oklahoma bitcoin strategic resolve act introduced

fikrett

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Quote from: _act_ on January 16, 2025, 02:21:50 AM

Quote from: Ziskinberg on January 16, 2025, 02:15:01 AM

I’m just curious, since this is in the US, does a law need to exist that allows a specific state to consider Bitcoin as a strategic reserve before they can draft legislation? After all, US federal law applies to all states, and as far as I know, the United States is still debating whether to make Bitcoin a reserve asset. So, no law has been created for it yet, right?

They all know that Trump will support bitcoin has been the reason the states are now signing a bill to have bitcoin strategic reserve. I do not also think there is a law that does not allow the states in the United States not to have bitcoin as a reserve. But I do not think this question should be asked. What we know right now is that some states in the United States are planning to have bitcoin strategic reserve.

I tried to double check, and indeed, there is no federal law prohibiting U.S. states from holding Bitcoin.
Albeit now would be the best entry point for all of them to make their moves on the decisions because of the administration that would currently be in the house.
Cool

_act_

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Lightning network is good with small amount of BTC

Quote from: Ziskinberg on January 16, 2025, 02:15:01 AM

I’m just curious, since this is in the US, does a law need to exist that allows a specific state to consider Bitcoin as a strategic reserve before they can draft legislation? After all, US federal law applies to all states, and as far as I know, the United States is still debating whether to make Bitcoin a reserve asset. So, no law has been created for it yet, right?

They all know that Trump will support bitcoin has been the reason the states are now signing a bill to have bitcoin strategic reserve. I do not also think there is a law that does not allow the states in the United States not to have bitcoin as a reserve. But I do not think this question should be asked. What we know right now is that some states in the United States are planning to have bitcoin strategic reserve.

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Quote from: DediRock on January 16, 2025, 02:19:09 AM

It's great to see states like Oklahoma recognizing Bitcoin's potential for preserving value and preparing for a digital future. Strategic moves like this could set a strong example for others to follow.

Yep. Texas and Florida are there too.
News like these are like hot cakes in recent times. And that's great.
But it's only news, currently.

DediRock

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It's great to see states like Oklahoma recognizing Bitcoin's potential for preserving value and preparing for a digital future. Strategic moves like this could set a strong example for others to follow.

Ziskinberg

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Quote from: Btcalysis on January 16, 2025, 01:32:00 AM

The list is for countries and not state. Oklahoma is a state in the United States.

I’m just curious, since this is in the US, does a law need to exist that allows a specific state to consider Bitcoin as a strategic reserve before they can draft legislation? After all, US federal law applies to all states, and as far as I know, the United States is still debating whether to make Bitcoin a reserve asset. So, no law has been created for it yet, right?

Btcalysis

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Quote from: MusaMohamed on January 15, 2025, 09:09:00 PM

For any new Bitcoin strategic reserves from any government, you can publish such news in Strategic Bitcoin Reserve threads.

The list is for countries and not state. Oklahoma is a state in the United States.

retreat

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Quote from: Maslate on January 15, 2025, 09:00:08 PM

There’s a lot of news about Bitcoin reserves lately, which is great since it’s a positive sign. But isn’t it a bit early for them to jump on the hype without fully studying it first? After all, we’re talking about pension funds here which are meant for retirees, mostly older people. The volatility of Bitcoin could cause problems if it’s not managed properly.

Honestly, I’d prefer if governments invested using funds meant for reserves or extras, rather than pension funds, which are specifically intended for retired individuals. It’s a sensitive matter, and any mismanagement could have serious consequences for those who depend on those funds.

Volatility is something that cannot be avoided when investing in Bitcoin, but I am sure that they already understood the risks before choosing Bitcoin as a reserve and did not carelessly invest all their pension funds in it. And also it would not be a big problem if they regularly invest in Bitcoin and hold it for a long period of time - they can take the example of how El Salvador started investing in Bitcoin for more than 3 years - Oklahoma can see how their strategy in investing and managing their Bitcoin investment and that can be a strong foundation for Oklahoma to build their Bitcoin reserve.

rodskee

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Quote from: Maslate on January 15, 2025, 09:00:08 PM

There’s a lot of news about Bitcoin reserves lately, which is great since it’s a positive sign. But isn’t it a bit early for them to jump on the hype without fully studying it first? After all, we’re talking about pension funds here which are meant for retirees, mostly older people. The volatility of Bitcoin could cause problems if it’s not managed properly.

i think the best the government can do is give a course about bitcoin and give people an option whether they want to receive their pension funds in fiat or in bitcoin

misinformation can lead to future complaints since these elderly will be expecting something in bitcoin probably expecting for it to rise over time which it will but they most likely are not fully aware of the risks associated with bitcoin bitcoin is a very complicated matter that with the wrong idea might not seem the best opportunity for some so there definitely needs more guidance from the government and not just throw bitcoin at everyone's faces especially the elderly who are not as adept with technology

MusaMohamed

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For any new Bitcoin strategic reserves from any government, you can publish such news in Strategic Bitcoin Reserve threads.

It is a hub for Bitcoin strategic reserves and related news in future, and by having all news in that thread, you can more easily get information and compare Bitcoin strategic reserves from different countries.

Time to look this thread, in my opinion.

Maslate

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Message @Hhampuz if you are looking for a CM!

There’s a lot of news about Bitcoin reserves lately, which is great since it’s a positive sign. But isn’t it a bit early for them to jump on the hype without fully studying it first? After all, we’re talking about pension funds here which are meant for retirees, mostly older people. The volatility of Bitcoin could cause problems if it’s not managed properly.

Honestly, I’d prefer if governments invested using funds meant for reserves or extras, rather than pension funds, which are specifically intended for retired individuals. It’s a sensitive matter, and any mismanagement could have serious consequences for those who depend on those funds.

Btcalysis

newbie

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This is a bill introduced to have a strategic bitcoin reserve for Oklahoma’s state savings accounts and pension funds to invest in digital assets like bitcoin.

Maynard said the investments would be managed prudently to meet the needs of fund managers, generate reliable returns for citizens, and safeguard purchasing power against inflationary pressures. He also said the Strategic Bitcoin Reserve Act would ensure Oklahoma is prepared for a future where digital assets play a pivotal role in the global economy

https://www.okhouse.gov/posts/news-20250115_1

Topic: Oklahoma bitcoin strategic resolve act introduced (Read 59 times)