Key Takeaways
- Oklahoma’s Bitcoin reserve invoice handed committee with a 12-2 vote.
- 5 states have rejected comparable Bitcoin reserve proposals.
- 25 Bitcoin reserve payments are being thought-about in 18 states.
Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203) cleared the Home Authorities Oversight Committee with a 12-2 vote on Feb. 25, 2025.
The invoice, launched by Consultant Cody Maynard, will now advance to the Home flooring for debate and potential amendments.
Funding provisions
If handed, HB 1203 would enable the Oklahoma State Treasurer to speculate public funds into any digital asset with a market capitalization exceeding $500 billion over the previous 12 months.
At present, Bitcoin is the one asset assembly that criterion.
The invoice additionally permits funding in stablecoins and goals to hedge state pension and financial savings plans towards inflation.
Consultant Maynard’s assertion
Upon introducing the invoice on Jan. 15, 2025, Consultant Maynard acknowledged:
Bitcoin represents freedom from bureaucrats printing away our buying energy, and as a decentralized type of cash, Bitcoin can’t be manipulated or created by authorities entities.
Rejections in different states
Whereas Oklahoma advances its proposal, at the least 5 states—Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming—have rejected comparable Bitcoin reserve payments.
Lawmakers in Montana cited volatility dangers as a key concern, with Consultant Steven Kelly stating:
It’s nonetheless taxpayer cash, and we’re accountable for it… these kind of investments are method too dangerous.
Continued curiosity in Bitcoin investments
Regardless of pushback, 25 Bitcoin reserve payments are at present into account throughout 18 U.S. states, signaling continued curiosity in state-backed Bitcoin investments.