Oklahoma Proposes Bill To Make Strategic Bitcoin Reserve

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.

Related
Articles