Oklahoma Proposes Bitcoin Reserve Legislation

Multiple U.S. states are proposing legislation to adopt Bitcoin as a strategic reserve asset.

Deniz Saat

January 16, 2025 @ 10:12 AM PT

On January 15th, Oklahoma Representative Cody Maynard introduced House Bill 1203, known as the Strategic Bitcoin Reserve Act, to establish Bitcoin as a strategic reserve asset.

Oklahoma becomes the 6th state to introduce ‘Strategic Bitcoin Reserve’ policy enabling the state to buy Bitcoin once passed into law.

That means we are now half way to our goal of achieving 12 states to introduce SBR bills.

Promises made. Promises kept. 🇺🇸 https://t.co/Pukr6s1Cpc
— Dennis Porter (@Dennis_Porter_) January 15, 2025

The bill proposes allowing the state’s pension funds and savings accounts to allocate a portion of their holdings to Bitcoin as a hedge against inflation.

Maynard described Bitcoin as a decentralized asset that operates independently of government control, highlighting its potential as a safeguard for financial stability.

Bitcoin Reserve Proposals in Other States

Other states have also proposed incorporating Bitcoin into public financial strategies.

In Pennsylvania, lawmakers introduced a bill in November 2024 to permit the state Treasury to invest up to 10% of its assets in Bitcoin.

Proponents argue that this aligns with private sector strategies employed by asset managers like BlackRock and Fidelity, who use Bitcoin to reduce macroeconomic risks.

Texas introduced similar legislation on December 12th, with Representative Giovanni Capriglione filing the Texas Strategic Bitcoin Reserve Act.

This bill calls for the state’s comptroller to hold Bitcoin as a reserve asset for a minimum of five years.

On January 10th, North Dakota and New Hampshire followed suit with Bitcoin-related proposals.

According to Dennis Porter, CEO of the advocacy group Satoshi Action Fund, the North Dakota bill already has support from 11 co-sponsors.