Oklahoma Proposes Bill For Strategic Bitcoin Reserve

Oklahoma Proposes Bill To Make Strategic Bitcoin Reserve

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Updated: 16 January 2025

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A new bill aimed at establishing a strategic Bitcoin reserve was introduced to the Oklahoma House of Representatives on January 15.

This move reflects similar initiatives in several other US states. Oklahoma Representative Cody Maynard has introduced the bill to establish a strategic Bitcoin reserve, enabling the state to invest in cryptocurrencies.

House Bill 1203, also called the Strategic Bitcoin Reserve Act, would allow Oklahoma’s pension funds and state savings accounts to allocate a portion of their assets to Bitcoin as a hedge against inflation.

“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said. He highlighted the advantage of Bitcoin as a decentralized form of money, and as such, cannot be controlled or created by government entities:

“It is the ultimate store of value for those who believe in financial freedom and sound money principles.”

🔥 NEW: Representative Cody Maynard introduces the Strategic #Bitcoin Reserve Bill, aiming to establish Oklahoma as a leader in Bitcoin adoption. 🚀 #CryptoNews #BitcoinPolicy pic.twitter.com/KiRdCXy8UJ

— Waseem Saeed (@thewaseemsaeed) January 16, 2025

What the bill proposes goes hand in hand with President-elect Donald Trump’s promise to establish a strategic Bitcoin reserve and position the nation as a global leader in the cryptocurrency sector.

Several Other States Proposed Strategic Bitcoin Reserve Bills

Oklahoma is not the only state that has introduced the Bitcoin strategic bill. In November 2024, Pennsylvania lawmakers submitted a proposal, allowing the state Treasury to invest up to 10% of its assets in Bitcoin.

State Representative Mike Cabell advocated for adopting Bitcoin diversification strategies that are similar to those used by private investment firms such as BlackRock and Fidelity. He emphasized that Bitcoin has the potential to protect state purchasing power against inflation and during periods of economic uncertainty.

Texas has also joined the initiative by filing the Texas Strategic Bitcoin Reserve Act on December 12, introduced by state lawmaker Giovanni Capriglione. The proposal recommends that the Texas comptroller of public accounts should hold Bitcoin as a reserve for at least five years.

North Dakota and New Hampshire introduced Bitcoin strategic reserve bills on January 10.

The New Hampshire proposal uses the term “digital assets,” implying that other crypto assets could be included in addition to Bitcoin.

Dennis Porter, co-founder and CEO of the Bitcoin advocacy group Satoshi Action Fund, highlighted that the North Dakota bill has already garnered 11 co-sponsors.

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