Catenaa, Tuesday, January 21, 2025 – Oklahoma has become the latest state to consider creating a Bitcoin reserve, following Republican-led proposals to invest in digital assets for long-term financial security.
State Rep. Cody Maynard introduced legislation Wednesday allowing state savings accounts and pension funds to invest in cryptocurrencies like Bitcoin. The bill permits the state treasurer to allocate public funds to digital assets with a market capitalization exceeding $500 billion over the past year. Currently, only Bitcoin, with a $1.97 trillion market cap, meets that threshold.
The measure also allows the state to invest in asset-backed stablecoins but caps digital asset holdings at 10% of public funds in state accounts. The proposal aligns with President-elect Donald Trump’s campaign promise to establish a federal Bitcoin reserve as part of efforts to diversify U.S. financial reserves.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said in a statement. “It is the ultimate store of value for those who believe in financial freedom and sound money principles.”
Oklahoma joins five other states—Texas, Pennsylvania, Ohio, New Hampshire, and North Dakota—that have introduced similar measures in recent months. Legislators across the nation are considering the potential benefits of Bitcoin as the cryptocurrency’s price repeatedly surges, topping $100,000 this week amid inflation concerns.
If approved, Oklahoma’s Bitcoin initiative could take effect in November, marking a significant step toward integrating digital assets into state financial strategies.
