Oklahoma Moves Forward with Bitcoin Strategy on State Reserves

• Bitcoin Reserve Act Strengthens State Reserves
• HB1203 diversifies funds and combats inflation
• Oklahoma expands use of digital assets

The state of Oklahoma has announced a proposed bill (HB1203) that would authorize investments from thought and state savings accounts in Bitcoin (BTC). The initiative aims to increase the diversification of resources, in addition to offering protection against inflation by including digital assets in its financial composition.

We are proud to be supporting and working towards the establishment of a Strategic Bitcoin Reserve in #Oklahoma

Thank you to Rep. Maynard, this is a huge step forward!

Let's keep Oklahoma as a # Bitcoin leader and help to secure the financial future of all Oklahomans 🫡 pic.twitter.com/0AtkN9SPB9

— Oklahoma Bitcoin Association (@oklahomabtc) January 15, 2025

Cody Maynard, a state representative from Durant, has introduced a bill called the Strategic Bitcoin Reserve Act. If approved in the upcoming legislative session, which begins on February 3, the bill would go into effect on November 1. Oklahoma is among six U.S. states formally considering including Bitcoin in their reserves, following similar moves by places like New Hampshire and Ohio.

The proposal highlights the importance of managing investments consciously, seeking good returns and stable purchasing power over time. The plan to create a strategic reserve in Bitcoin comes as a response to the growing demand for mechanisms to protect against currency fluctuations and as part of a larger trend in the United States to incorporate cryptocurrencies into financial policies.

Interest in laws that allow reserves in Bitcoin gained momentum after Donald Trump’s re-election as the country’s 47th president, strengthening discussions about the adoption of digital assets in different spheres of government. In addition, the possibility of approving a set of policies aligned with this vision has been closely monitored by several cryptocurrency market analysts.

By allowing state funds to purchase cryptocurrencies, the Strategic Bitcoin Reserve Act could position Oklahoma as a leader in innovative tax practices. The initiative helps cement cryptocurrencies as a potentially reliable reserve asset, while also positioning the state for a potential expansion of digital asset use globally.

At the time of publication, the price of Bitcoin was quoted at US$99.759,42, up 3.5% in the last 24 hours.

The bill is expected to be voted on after debates begin in February, reflecting a broader commitment to financial modernization. If approved, the bill will come into effect in November, representing a significant milestone in the institutional adoption of cryptocurrencies in the United States.