Oklahoma House of Representatives Commitee passed the Strategic Bitcoin Reserve Bill. Representative Cody Maynard introduced the Bill on January 15. The act would allow the state to invest up to 10% of public funds in BTC and other digital assets.
The Oklahoma House of Representatives Committee approved the Public Finance: Strategic Bitcoin Reserve Act. The bill will now enter the full voting stage amid the state’s broader effort to embrace digital assets.
Oklahoma’s Bitcoin strategic reserve bill to proceed to full voting stage
Oklahoma Representative Cody Maynard introduced House Bill 1203, titled Strategic Bitcoin Reserve Act, on January 15. Once assented into law, the act would allow Oklahoma’s pension funds and state savings accounts to allocate a portion of their assets to Bitcoin and other digital assets.
The bill will also allow the state to invest 10% of public funds in Bitcoin or any digital assets with a market cap of over $500 billion.
BIG BREAKING: ‘Strategic Bitcoin Reserve’ passes out of committee in Oklahoma with a vote count of 12-2.
Thank you to the leadership by @CodyMaynard15 who carried the SBR bill. pic.twitter.com/jC7bhVbVuB
— Dennis Porter (@Dennis_Porter_) February 25, 2025
Maynard commented that Bitcoin represented freedom from bureaucrats printing away their purchasing power. He added that Bitcoin was a decentralized currency that could not be manipulated. The representative highlighted that it was the ultimate store of value for those who believed in financial freedom.
In 2021, Oklahoma Governor Kevin Stitt signed an executive order creating a task force to study cryptocurrency’s benefits for the state. The bill comes as several states within the United States show interest in cryptocurrencies.
States like Pennsylvania have pending legislation to establish a Bitcoin Strategic Reserve. Pennsylvania policymakers submitted a proposal to introduce a Bitcoin Reserve in November 2024. The act would allow the state’s treasury to invest up to 10% of its assets in Bitcoin.
State Representative Mike Cabell commented that Pennsylvania should adopt the asset diversification model adopted by the private sector. He cited institutions such as Fidelity and BlackRock using Bitcoin to shield their investments from inflation. The representative added that digital assets would protect their purchasing power through the turbulent economy.
Texas lawmaker Giovanni Caprilione introduced the Texas Strategic Reserve Act on December 12. The lawmaker suggested the Texas controller of public accounts hold BTC as a reserve asset for at least five years.
New Hampshire and North Dakota introduced their Bitcoin strategic reserve bills in January. The New Hampshire bill was introduced by Representative Keith Ammom, a Republican representing the 40th district.
The bill did not expressly mention Bitcoin but used the blanket term “digital assets.” According to Satoshi Action Fund CEO Dennis Porter, the blanket definition allowed lawmakers to push the legislation without triggering political friction.
Senator Jeff Barta, Representative Nathan Toman, and Representative Josh Christy championed the North Dakota Bill. Porter commented the bill had already attracted eleven sponsors.
Talks on Strategic Bitcoin Reserves intensify as Trump assumes office
Strategic Bitcoin Reserves gained traction after Donald Trump won the US presidential elections. During his campaign, Trump promised to make the United States the global Bitcoin capital once he assumed office.
After his inauguration, the president signed an executive order promoting digital assets and other financial technologies. The order established a working group that would offer regulatory clarity on issues such as the potential creation and maintenance of a national digital asset stockpile.
Galaxy Digital Head of Research Alex Thorn commented that “stockpile” could mean holding on to what the government already had. He added that it did not necessarily mean buying anything. Thorn suggested the stockpile would be made up of Bitcoin rather than alternative digital assets.
Castle Island Venture Partner Nic Carter suggested legislation was necessary to establish a strategic BTC reserve. He added that such legislation was unlikely to pass through both houses.
Prediction market Polymarket revealed that despite the executive order, the odds of creating a Bitcoin strategic reserve in the United States dropped from 76% to 46%. Other players expressed their optimism about the executive order. Coin Center Executive Director Peter Van Valkenburgh commented that the president’s executive order set up the processes and teams to improve crypto policy.
Shortly after the executive order signing, the United States Securities and Exchange Commission dropped the crypto accounting rule that made it impractical for banks to hold BTC.
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