Oklahoma is poised to become a pioneer in state-level cryptocurrency adoption with the introduction of the Strategic Bitcoin Reserve Act (HB1203). Spearheaded by Representative Cody Maynard (R-Durant), this groundbreaking legislation would enable the state to invest portions of its savings accounts and pension funds in Bitcoin and other digital assets.
The bill, set to be considered in the legislative session starting February 3, outlines a framework for Oklahoma to diversify its investment portfolio while embracing financial innovation. If passed, the law would take effect on November 1, 2025.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” explains Maynard. “As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities.”
Key features of the bill include:
- Permission for state funds to invest in Bitcoin and qualifying digital assets
- A 10% investment cap to ensure responsible risk management
- Provisions for state retirement funds to participate
- Option for citizens to pay taxes using Bitcoin
The initiative aligns with broader trends in digital asset adoption while maintaining fiscal responsibility. Through this legislation, Oklahoma aims to position itself at the forefront of state-level cryptocurrency integration, potentially setting a precedent for other states to follow.