On February 11, 2025, Oklahoma's House of Representatives announced that Bill HB 1203, the 'Strategic Bitcoin Reserve,' passed the committee voting stage. This marks a significant step towards the state's financial independence.
Committee Approval
The Strategic Bitcoin Reserve bill was approved by Oklahoma's committee with a vote of 6 to 2 and has now moved ahead for a full House debate.
Summary of Bill HB 1203
Introduced on January 15, 2024 by Representative Cody Maynard, the bill permits the state's savings accounts and pension funds to invest in Bitcoin alongside traditional assets. Maynard expressed that Bitcoin represents 'freedom from bureaucrats printing away our purchasing power,' offering financial stability and protecting money from inflation.
Comparison with Other States
While Oklahoma and Arizona's Bitcoin reserve bills are at similar stages, Utah is slightly ahead. Meanwhile, Texas is advancing with its Bitcoin reserve, Pennsylvania proposed allocating 10% of state and emergency funds to Bitcoin, and North Dakota is currently exploring support for cryptocurrencies.
The passing of the Bitcoin Strategic Reserve bill in Oklahoma's committee is a pivotal step for the state, opening new opportunities for financial stability. As cryptocurrencies gain traction, their interest among states is growing.
