Connect with us

Hi, what are you looking for?

Bitcoin
Bitcoin

Cryptocurrency

Oklahoma introduces legislation to establish Bitcoin as a strategic reserve asset

A new measure in Oklahoma seeks to use Bitcoin as a reserve asset to safeguard the state’s financial future. The “Strategic Bitcoin Reserve Act” would enable Oklahoma’s pension funds and savings accounts to invest in Bitcoin as an inflation hedge, establishing the state as a pioneer in creative fiscal policy.

Oklahoma has made a huge step toward incorporating digital assets into its financial plan by introducing the “Strategic Bitcoin Reserve Act” (House Bill 1203). State Representative Cody Maynard introduced the bill on January 15, 2025, with the purpose of protecting Oklahoma’s financial future by utilizing Bitcoin as a strategic reserve asset.

This unprecedented project suggests that Oklahoma’s pension funds and state savings accounts invest a percentage of their assets in Bitcoin. By doing so, the state intends to protect against inflation and future-proof its budget. Maynard stressed that Bitcoin provides an alternative to traditional government-controlled currencies, which he sees as prone to inflation and manipulation. “Bitcoin represents freedom from bureaucrats printing away our purchasing power,” he stated, emphasizing Bitcoin’s decentralization as a significant advantage.

The law seeks to establish Oklahoma as a forward-thinking leader in implementing new budgetary strategies. Several other states, like Pennsylvania and Texas, are investigating similar efforts, with the goal of using Bitcoin to diversify public assets and mitigate macroeconomic risks.

Maynard believes that investing in Bitcoin will deliver predictable returns for the state’s inhabitants while also protecting its funds during times of economic volatility. If passed, the bill would enable Oklahoma to begin investing in Bitcoin as early as November 2025, ushering in a new era in state financial administration.

author avatar
Alex
Formally freelance blogger Alex is passionate writer with interest in Finance and Business, fascinated about crypto following news and covering stories.
Advertisement

You May Also Like

Business

A legal dispute has broken out over the US Treasury Department purportedly giving Elon Musk's Department of Government Efficiency (DOGE) unprecedented access to sensitive...

Cryptocurrency

Semler Scientific, a healthcare technology corporation, has increased its Bitcoin portfolio by purchasing 871 BTC for $88.5 million. With this transaction, the corporation now...

Business

Blocksquare has established a pioneering real estate tokenization framework in Luxembourg that combines blockchain technology with land registries to provide legally binding property rights....

Business

Telegram's choice to exclusively use The Open Network (TON) blockchain for Web3 services has sparked discussion in the crypto world. While some see it...

polkadot
Polkadot (DOT) $ 4.82 4.44%
bitcoin
Bitcoin (BTC) $ 98,127.29 0.26%
ethereum
Ethereum (ETH) $ 2,731.65 0.74%
cardano
Cardano (ADA) $ 0.730879 0.26%
xrp
XRP (XRP) $ 2.47 5.02%
stellar
Stellar (XLM) $ 0.337776 3.94%
litecoin
Litecoin (LTC) $ 105.52 1.65%