Oklahoma proposes Strategic Bitcoin Reserve Act, joining five other US states in considering BTC for state treasury holdings.
Bitcoin BTC $99 798 24h volatility: 3.6% Market cap: $1.98 T Vol. 24h: $54.92 B is steadily evolving from a speculative investment to a potential state reserve asset. On January 15, Oklahoma legislators proposed the Strategic Bitcoin Reserve Act, a bill that would allow the state to purchase and hold Bitcoin as part of its treasury strategy.
If passed, this legislation would make Oklahoma the sixth US state to consider Bitcoin as a strategic reserve, joining the likes of Texas, Ohio, New Hampshire and North Dakota. The initiative underscores a growing trend among state governments exploring Bitcoin as a hedge against inflation and economic volatility.
The bill, introduced by Rep. Cody Maynard, R-Durant, is designed to position Oklahoma at the forefront of fiscal innovation. Under the act, state savings accounts and pension funds would gain the ability to invest in BTC and other digital assets.
These investments would be managed with a focus on financial prudence, aiming to deliver stable returns and protect the purchasing power of state funds.
According to Maynard, the crypto asset “represents freedom from bureaucrats printing away our purchasing power.” He highlighted Bitcoin’s decentralized nature as one of the key reasons why Ohkoloma should add the king coin to its reserve.
“As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles,” Maynard said.
Additionally, the proposed legislation emphasized diversifying Oklahoma’s financial reserves to prepare for a future where digital assets play a central role in the global economy.
Maynard believes the potential addition of Bitcoin to state reserve assets will strengthen the state’s financial position while providing a hedge against inflation. Maynard noted:
“This bill is about protecting the hard-earned money of Oklahoma’s citizens […] By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.”
He further stated that the Strategic Bitcoin Reserve Act is already set for consideration in the upcoming legislative session, beginning February 3.
If successfully approved by the parliament, the bill would take effect on November 1, allowing the state to initiate Bitcoin acquisitions and setting a precedent for other states to follow.
While several US states, including Oklahoma, are exploring Bitcoin as a reserve asset, the trend has also gained traction internationally. Brazil, for instance, introduced a proposed bill known as the “Bitcoin Sovereign Strategic Reserve” (ResBit), aimed at incorporating Bitcoin into its national treasury.
Similarly, during the just concluded election in the United States, President Donald Trump had pledged to make Bitcoin a reserve if elected.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
