News has surfaced that the American state of Oklahoma has proposed legislation to add Bitcoin to their "strategic reserve". They follow in the footsteps of Pennsylvania, North Dakota, New Hampshire, and of course, El Salvador, among others.
Given all the other states and corporations making similar announcements about a Bitcoin reserve, could this be part of a larger, coordinated effort? Also, what impact will these announcements have on the "alt-coin" market? These questions, and more, will be addressed in this article.
Bitcoin Adoption Continues
Witnessing more and more American states propose a Bitcoin strategic reserve is rather thought-provoking indeed. After all, it was only a few years ago that most governments and financial institutions were either mocking Bitcoin, or labeling it as money for criminals.
It makes one wonder, as the traditional financial system continues to skate on thin ice, could state-level Bitcoin adoption be part of a larger coordinated plan? Although it seems unlikely that the government had anything to do with Bitcoin's creation, they could very well be trying to tap into its success.
Moreover, corporations like Microstrategy and Blackrock (via their ETFs) have quickly amassed large portions of Bitcoin's 21,000,000 supply. This has aroused suspicion that Blackrock may attempt to fork Bitcoin into a more environmentally-friendly version, in order to gain more control over the network.
Beyond Bitcoin
Interestingly, some states have implied that their strategic reserves will not be limited to Bitcoin only, but may include other cryptocurrencies as well. For example, New Hampshire announced they will be adding not only Bitcoin, but general "digital assets" to their reserve.
At the same time, we are also seeing nation states like El Salvador now inviting companies like Tether (USDT) into their country, expanding beyond the "Bitcoin only" mantra. After all, Tether wouldn't even exist if it weren't for the likes of Ethereum and other smart-contract enabled blockchains.
Competition
While most nations, states, and corporations are primarily focused on Bitcoin adoption for the time being, it's unclear if these entities would manage to enforce a "Bitcoin-only" standard in the future.
After all, there are countless grassroots movements outside of Bitcoin that are promoting the adoption of other cryptocurrencies such as Dash, Digibyte, Litecoin, etc, all of which are gaining traction in various parts of the world.
Also, development on Ethereum sidechains, Solana, and other blockchain ecosystems continues unabated. Crypto sectors like DePIN, RWA, and AI Agents, which are all centered on their own tokens using these various blockchains, continue to gain traction.
Until next time...
As the number of states and corporations adopting Bitcoin into a strategic reserve continues to increase, other crypto grassroots movements continue to gain momentum as well. It all likelihood, we will see currency wars emerge as these various crypto assets compete with one another to be the future of money.
If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the Hive blockchain. You can also follow me on InLeo for more frequent updates.
Further Reading
- Will Bitcoin Be The Base Layer Of The New Financial System?
- Bitcoin Blues: Did El Salvador Just Surrender To The IMF?
- How To Be Successful In Crypto In 2025 And Beyond
Resources
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