Oklahoma Proposes Bill for a Strategic Bitcoin Reserve

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

This measure mirrors similar initiatives in several other US states. Oklahoma Representative Cody Maynard introduced the bill to establish a strategic bitcoin reserve, which will allow the state to invest in cryptocurrencies.

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

“bitcoin represents the freedom from bureaucrats printing 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 monetary principles.”

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NEW: Rep. Cody Maynard presents strategy <a target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Reserve Bill, which aims to establish Oklahoma as a leader in bitcoin adoption. <a target="_blank" href="https://twitter.com/hashtag/CryptoNews?src=hash&ref_src=twsrc%5Etfw”>#CryptoNews <a target="_blank" href="https://twitter.com/hashtag/BitcoinPolicy?src=hash&ref_src=twsrc%5Etfw”>#BitcoinPolitics pic.twitter.com/KiRdCXy8UJ

– Waseem Saeed (@thewaseemsaeed) <a target="_blank" href="https://twitter.com/thewaseemsaeed/status/1879763456775332090?ref_src=twsrc%5Etfw”>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 to have introduced the strategic bitcoin bill. In November 2024, Pennsylvania lawmakers introduced a proposal allowing the state Treasury to invest up to 10% of its assets in bitcoin.

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

Texas has also joined the initiative by introducing the Texas Strategic bitcoin Reserve Act on December 12, introduced by state legislator Giovanni Capriglione. The proposal recommends that the Texas Comptroller of Public Accounts hold bitcoin in reserve for at least five years.

North Dakota and New Hampshire introduced bitcoin strategic reserve notes on January 10.

The New Hampshire proposal uses the term “digital assets,” implying that other cryptoassets besides bitcoin could be included.

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

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