Oklahoma Advances SBR Bill to Invest up to 10% Public Funds in Bitcoin

Key Points

• Oklahoma’s SBR Act passed the House committee, advancing for a floor vote.
• BTC rebounded following yesterday’s dip amidst market optimism and ahead of an important US crypto event.

Bitcoin is trading in the green today following yesterday’s liquidations, and BTC ETFs outflows. The digital asset is surrounded by optimism as Oklahoma advanced its SBR bill and today, an important crypto event will take place.

Bitcoin is Trading Above $89,000

BTC price continues to surge today, and the digital asset is currently trading at $89,000, up by over 1% for the day.

BTC price in USD today

The price rebound follows huge amounts of liquidations from the past days and high outflows from BTC ETFs – factors that led to a Bitcoin and crypto crash.

However, crypto whales bought the dip on February 25, according to reports. Today, BTC continues to surge, amidst market optimism, despite the recent crash.

Oklahoma Advances its SBR Act

Oklahoma’s Strategic Bitcoin Reserve Act also known as HB 1203 has recently passed the House committee, advancing for a House floor vote, according to official reports.

The bill allows the state to invest 10% of its public funds into Bitcoin.

official notes about the Oklahoma SBR Act

Yesterday, Satoshi Act Fund’s Dennis Porter announced on X that the bill passed out of Committee in Oklahoma with a vote count of 12-2.

Dennis Porter via X

This means that Oklahoma is one step closer to establishing its own Strategic Bitcoin Reserve and more states could follow.

This year, the state also introduced a bill for employees to be paid in Bitcoin.

Porter also announced that the next possible Governor of Florida is ready to add BTC to the balance sheet. He said that Congressman Byron Donalds declared his bid for Florida Governor and said that he wants digital assets to become a part of the State’s financial portfolio.

Dennis Porter via X

Despite the recent market turmoil, Bitcoin and crypto remain surrounded by optimism ahead of today’s important crypto event in the US – the 1st ever Digital Asset Subcommittee hearing with huge implications for crypto.