Breaking news: the Strategic Bitcoin Reserve Bill has failed in Oklahoma. Let’s dive into what this means for you as a Bitcoin investor and the broader Bitcoin legislative landscape. We’ll also touch on what Federal Reserve Chair Jerome Powell said today about interest rates, along with some latest altcoin news.

The vote on Oklahoma’s Strategic Bitcoin Reserve Bill was incredibly close, but ultimately, it did not pass. During the closing statements, Senator Guthrie delivered an impassioned speech highlighting why Oklahoma needs to embrace Bitcoin. He emphasized Bitcoin’s impressive track record, stating it has seen a staggering 12,000% increase over the last decade and has never lost money over a four-year period. Senator Guthrie argued that Bitcoin is not going away and that Oklahoma has the opportunity to be a leader in this space.

“We can be last or we can be at the front of the line. If we don’t do this today, we will have to do it at some point.”

He explained that the proposed bill would allow for a maximum investment of 5% of state funds into Bitcoin, which has a market cap of $500 billion. He reassured that this investment would be managed by elected officials who have a fiduciary duty to make sound decisions.

Despite his compelling arguments, the bill ultimately failed with a vote of 6 to 5. Interestingly, Senator Christy Gillespie changed her vote from ‘no’ to ‘yes’ at the last minute, influenced by constituents who expressed the importance of Bitcoin to them. This shows that average citizens can have a direct impact on their representatives’ decisions.

With Oklahoma now officially out of the race, states like Arizona, New Hampshire, and Texas are leading the charge for Bitcoin reserve legislation. Arizona has already moved past committee and into the chamber, while we eagerly await updates from other states.

Jerome Powell’s Speech and Its Impact on the Market

Today, Jerome Powell addressed the economic landscape, leaving many to wonder whether he would be bearish, indicating a need to cut rates, or bullish, asserting the economy’s strength. Powell stated that despite heightened uncertainty, the U.S. economy remains solid, with the labor market at or near maximum employment and inflation showing signs of moderation.

This led to a slight dip in the stock and crypto markets, but Bitcoin held up relatively well. Powell’s reluctance to lower rates stems from ongoing inflation concerns, particularly due to significant tariff increases and their economic effects.

Latest Altcoin News: Supra’s Growing Ecosystem

In other altcoin news, Supra has reached a major milestone, attracting over 700,000 active wallets just 136 days after its mainnet launch. This growth indicates real demand and suggests that Supra is solving genuine problems in the blockchain space.

• This significant user base reflects a network effect, where increased users lead to more developers and applications, ultimately driving up value.
• While user growth does not guarantee an immediate price increase, it does create utility demand, which can lead to long-term appreciation.
• Make sure to have more than 10 Supra tokens to participate in the staking process, which is user-friendly and straightforward.

Join Us at Bitcoin Conference 2025

Lastly, my brother and I will be speaking at the Bitcoin Conference 2025 in Las Vegas! We’d love for you to join us. Use code “ALTCOINDAILY” for a 10% discount on your ticket. It’s a fantastic opportunity to connect with fellow Bitcoin enthusiasts and notable speakers.

Stay tuned for more updates on the Bitcoin landscape and other altcoin developments. Subscribe to keep yourself informed and ready to make the best investment decisions.