Oklahoma Representative Cody Maynard has introduced the “Strategic Bitcoin Reserve Act” (House Bill 1203), a proposed bill that would allow the state to invest in cryptocurrencies, including Bitcoin, through savings accounts and retirement funds.
Oklahoma Lawmaker Proposes Bitcoin Investment Bill for State Funds
The move positions Oklahoma among a growing number of U.S. states exploring digital asset reserves.
Basic Provisions of the Bill
- Crypto Investment Scope: The bill authorizes the State Treasurer to invest in bitcoin, other cryptocurrencies and stablecoins with a market value exceeding $500 billion.
- Investment Limits: Public funds allocated to cryptocurrency investments should not exceed 10% of the total size of the state's public funds.
- Staking of Assets: The bill allows the treasurer to stake crypto assets through third-party services, provided that the legal ownership of the assets remains with the state.
Bitcoin, currently with a market cap of around $2 trillion, meets this threshold, while other cryptocurrencies like Ethereum (market cap: $406.5 billion) sit just below it.
The proposal aligns with President-elect Donald Trump’s strategic vision of creating a national cryptocurrency reserve to solidify U.S. leadership in the global crypto industry.
“Bitcoin represents freedom from bureaucrats who suppress our purchasing power,” Maynard said. “As a decentralized form of money, Bitcoin cannot be manipulated or created by government agencies. It is the ultimate store of value for those who believe in financial freedom and sound monetary principles.”
Maynard stressed that these investments will be carefully managed to provide stable returns, preserve citizens' purchasing power and protect against inflation.
*This is not investment advice.
