Key Takeaways
- Oklahoma's Bitcoin reserve bill passed committee with a 12-2 vote.
- Five states have rejected similar Bitcoin reserve proposals.
- 25 Bitcoin reserve bills are being considered in 18 states.
Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203) cleared the House Government Oversight Committee with a 12-2 vote on Feb. 25, 2025.
The bill, introduced by Representative Cody Maynard, will now advance to the House floor for debate and potential amendments.
Investment provisions
If passed, HB 1203 would allow the Oklahoma State Treasurer to invest public funds into any digital asset with a market capitalization exceeding $500 billion over the past year.
Currently, Bitcoin is the only asset meeting that criterion.
The bill also permits investment in stablecoins and aims to hedge state pension and savings plans against inflation.
Representative Maynard’s statement
Upon introducing the bill on Jan. 15, 2025, Representative Maynard stated:
Bitcoin represents freedom from bureaucrats printing away our purchasing power, and as a decentralized form of money, Bitcoin cannot be manipulated or created by government entities.
Rejections in other states
While Oklahoma advances its proposal, at least five states—Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming—have rejected similar Bitcoin reserve bills.
Lawmakers in Montana cited volatility risks as a key concern, with Representative Steven Kelly stating:
It’s still taxpayer money, and we’re responsible for it… these types of investments are way too risky.
Continued interest in Bitcoin investments
Despite pushback, 25 Bitcoin reserve bills are currently under consideration across 18 U.S. states, signaling continued interest in state-backed Bitcoin investments.
