Chiara Bianchi
Representative Cody Maynard of Oklahoma has put forward the “Strategic Bitcoin Reserve Act” under House Bill 1203, which would enable the state to invest in cryptocurrencies such as Bitcoin. The bill, announced on Wednesday, seeks to allow state savings accounts and pension funds to include crypto assets in their portfolios, following a trend seen in several other U.S. states.
The proposal comes at a time when President-elect Donald Trump has pledged to establish a national strategic cryptocurrency reserve. This federal initiative aims to position the United States as a global leader in the digital asset sector, complementing Oklahomaโs move toward integrating cryptocurrencies into its financial framework.
If passed, the bill would grant the Oklahoma State Treasurer the authority to hold Bitcoin, other cryptocurrencies with a market capitalization exceeding $500 billion, and stablecoins. However, the total investment in cryptocurrencies would be capped at 10% of the stateโs public funds.
Bitcoin, with a current market capitalization of approximately $2 trillion, and Ethereum, valued at $406.5 billion, are among the digital assets that meet the proposed criteria. The legislation would also allow staking of crypto assets through third-party services, provided the state retains legal ownership of the staked assets.
Advocating for Financial Freedom
โBitcoin represents a pathway to financial independence and freedom from inflationary government policies,โ Maynard stated in a press release. He emphasized that Bitcoin, as a decentralized currency, cannot be manipulated by governments, making it a reliable store of value for those who prioritize sound money principles.
Maynard also highlighted the potential for crypto investments to deliver stable returns for citizens while safeguarding against inflation. โOur approach ensures prudent management to support fund managers and protect purchasing power,โ he added.
Legislative Timeline and Broader Trends
The bill is set to be reviewed in the upcoming legislative session starting February 3 and, if approved, will take effect on November 1.
Oklahoma is not alone in exploring state-level Bitcoin reserves. States like Texas, Pennsylvania, and Ohio have proposed similar measures to incorporate cryptocurrency into their financial systems.
Bitcoin has seen growing adoption and appreciation in value, particularly following the reelection of pro-crypto President Trump. The leading cryptocurrency recently gained 2.79% in the past 24 hours, trading at $99,538, according to PRIMEโs price tracking data.
This legislative initiative positions Oklahoma as a forward-thinking state in the adoption of blockchain technology and cryptocurrency, aligning with a broader national and global trend toward digital asset integration.
