breaking news the strategic Bitcoin reserve bill has failed in Oklahoma let's talk about what this means for you as a Bitcoin investor what this means for the future of the overall Bitcoin legislation landscape of course what Fed chair Jerome Powell just said today about cutting rates as well as the latest altcoin news this is why you subscribe to Altcoin Daily for an edge investing in crypto by staying up to date and let's start oklahoma's strategic Bitcoin reserve bill fails to pass in Senate committee the vote was so so close it almost passed but what was
interesting in Senator Guthy's closing statement he gave an impassioned speech about why the state of Oklahoma needs to take Bitcoin seriously this is about a two-minute speech watch this see a note debate senator Guthrie would you care to close the base senator Guthrie recognized thank you Mr chair i know Bitcoin is uh is hard to grasp um this is this is not something new this is if you look at Bitcoin over the last 10 years like I said it has a 12,000% increase and 49% annualized return um there has not been a period of four
years that Bitcoin has lost money did Bitcoin is not going away and uh I I also want to say thank you very much Senator Hall for taking the time and and going through this and discussing this with me that I really do have a lot of respect for you for that um we can be Oklahoma can be last or we can be at the front of the line and there's a lot of things we're last in and this is this is going to come around at some point where if we don't do this today we're
going to do this at some point this bill puts guardrails in place it limits to 5% it says we're only investing in something that has a market cap of $500 billion dollar that is not a small investment this does not have people's hands in it this is not a company that can fail bitcoin is too big to fail it is already in place it is an asset it will not fail it cannot go away so if you look at companies and Senator you mentioned.com were run by people people are flawed people make bad decisions and
they can they can they can fail and what we saw with the docom that is exactly what happened this is not that case um like I said we can be first get in first of the line be proactive and do something where we are having a fiduciary duty to also make good investments with our with our constituents investments and money and this is up to 5% this is not say we have to do 5% this says we can do 5% the foreign bonds are 6% we're that is not I don't believe that that is a
good investment this is something we could replace that with um but we could leave this in the hands of the treasur they're statewide elected official they are um in the position to make those good sound investments as well as the pension board those they will be very they will vet these before they make any kind of decisions such as this so I would respectfully ask for your support and uh put Oklahoma on the map as moving forward and um I'll close with that Mr chair uh the vote would now occur on House Bill 1203 clerk
will call the role and of course this bill went on to fail in Oklahoma but Senator Guthrie gave such an impassion speech it changed some minds important politicians voting on Bitcoin reserve legislation can be persuaded here senator Christy Gillespiey's vote was changed from no to yes at last minute none of these bills are guaranteed to pass or fail but Bitcoiners you can make a difference this is how it happens up until this afternoon I I have been a no but I am going to be a yes and I had a couple of constituents meet um
reach out to me and because of that because I I'll be honest I don't like voting yes on things that I don't understand and but my ignorance maybe isn't the reason to to vote no and but I do that doesn't mean that I won't that I won't be a no on the floor if it gets to that point but um because constituents reached out and and talked to me about it a little bit I'm going to be yes today wow so actually I guess it wasn't another senator that convinced her it was the people it
was the constituency average people talking to their senators and saying "This matters to me." And by the way just for the record this vote was so so close it was six to five six nos five yeses the nos were as followed if this is any any one of your senators I guess in the state of Oklahoma but there was one two three four Republicans that said no and two Democrats that said no that's surprising and what this means is Oklahoma officially drops out of the race leaving now Arizona New Hampshire and Texas in the lead
to pass a Bitcoin reserve legislation bill in their state it's good actually that Arizona has already got out of committee 2 they're now in chamber 2 so they passed where Oklahoma just was we are watching and waiting on all these other states click subscribe because I will keep you up to date on this and Federal Reserve Chair Jerome Powell spoke today people were wondering is he going to be bearish on the economy meaning he will cut rates or bullish on the economy will he claim the economy is strong and say "We don't need to cut
rates." Despite heightened uncertainty and downside risks the US economy is still in a solid position the labor market is at or near maximum employment inflation has come down a great deal but is still running a bit above our 2% objective so this is why the stock market went down today this is why Bitcoin and crypto went down a little but actually Bitcoin held up much better fed chair Jerome Powell says the United States economy remains solid despite ongoing uncertainty he could lower rates to spur the economy but isn't and this caused the ever slightest dip
in the crypto market some people believe the Fed will intervene if the stock market plummets the so-called Fed put are they correct i'm going to say no with an explanation so the reason he doesn't want to lower rates is because he's still worried about inflation the level of tariff increases announced so far is significantly larger than anticipated and the same is likely to be true of the economic effects which will include higher inflation and slower growth so with the Federal Reserve offering no relief on their end and with Donald Trump keeping tariffs high so giving
us no relief on this end this is the real reason that many all markets really are not going up actually Bitcoin holding up surprisingly well maybe entities globally are seeing Bitcoin as a hedge against all the BS of these governments fighting that's interesting and looking at latest altcoin news Supra has over 700,000 active wallets so what well this is significant because it's just 136 days after mainet superlabs has attracted over 700,000 users to the blockchain that's big and according to this web 3 expert with over 7 plus years in experience with tech and markets here's
a breakdown of what this really means for the ecosystem and Supra price number one for Supra this signals real demand ecosystem demand over 700,000 active accounts isn't just hype it's signal that Supra is solving real problems and users are sticking around not every chain achieves such growth without massive VC burn supra might be tapping into actual utility demand something to pay attention to as well as network effect we're seeing compounding growth meaning more users more devs more apps equals eventually more value meaning when all these fundamental metrics continue to at least sustain or grow in
a bearish market that's significant to me that means Supra's infrastructure is getting sticky ensure you have more than 10 super tokens to complete the staking process now from the list of pools scroll down and choose and click on confirm button you successfully stake your super tokens so the infrastructure is there very easy to stake and number three and just to be real with you token impact carefully optimistic because let's be real user growth does not instantly equate to price pump but it does create utility demand meaning real stakers paying gas fees voting etc token velocity
with network growth and stronger fundamentals for long-term price appreciation again cool to see the growth in the altcoin market and by the way my brother and I will be speaking at Bitcoin Conference 2025 this year in Vegas come hang with us and use code altcoin daily for 10% off your ticket seriously it'll be great to chill with you chill with Michael Sailor so I'm definitely talking to some of these other big notable speakers link down below
