A new bill paves the way for Bitcoin investment in state pension funds and savings accounts.
Oklahoma joins the growing number of U.S. states exploring the integration of Bitcoin as a strategic reserve asset in state coffers. On January 15, Representative Cody Maynard introduced House Bill HB1203, known as the “Strategic Bitcoin Reserve Act,” to the Oklahoma House of Representatives.
The proposal would allow state pension funds and savings accounts to allocate a portion of their assets to Bitcoin, using it as a hedge against inflation. According to the draft bill, the amount of public funds invested in Bitcoin must not exceed 10% of the total size of public funds.
Regarding the initiative, Maynard stated:
“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. The bill is about protecting the hard-earned money of Oklahoma’s citizens.”
The bill will be eligible for consideration in the upcoming legislative session, which begins on February 3. If enacted, it would take effect on November 1.
Oklahoma’s initiative is part of a broader national trend. Pennsylvania led the way last November, proposing to invest up to 10% of the state Treasury’s assets in Bitcoin. Texas followed suit in December through Representative Giovanni Capriglione, while North Dakota and New Hampshire recently introduced similar measures. According to Dennis Porter, CEO of the advocacy group Satoshi Action Fund, North Dakota’s proposal has already garnered the support of 11 lawmakers out of 141 total members.
