Oklahoma Lawmaker Proposes Legislation to Establish Strategic Bitcoin Reserve

Oklahoma has joined a growing list of states exploring the integration of Bitcoin (BTC) into their financial reserves. Representative Cody Maynard recently introduced House Bill 1203, proposing the creation of a Bitcoin Strategic Reserve worth up to $850 million. This makes Oklahoma the sixth U.S. state to formally consider such legislation.

The bill empowers the Oklahoma State Treasurer to allocate funds from the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund into Bitcoin, other digital assets with market capitalizations above $500 billion, and stablecoins. However, investments in these assets would be limited to a maximum of 10% of the total value of the respective funds.

Currently, Bitcoin is the only cryptocurrency meeting the $500 billion market cap requirement. While Ethereum (ETH) is the next closest contender, its market cap would only qualify if ETH's price reaches $4,150 at the current circulating supply of 120.5 million tokens.

If passed, the legislation is set to take effect on November 1, 2025.

Secure Custody and Staking Provisions

The bill includes specific requirements for securely storing digital assets, such as the use of advanced custody solutions, geographically dispersed data centers, and robust multi-party governance protocols.

Additionally, the legislation permits staking—where the state can participate in blockchain transaction validation—provided the assets remain under state ownership. Investments in stablecoins are also allowed, but only if these tokens have regulatory approval from authorities in the United States, the United Kingdom, Japan, or the European Union.

Taxes and fees paid in Bitcoin must be converted to U.S. dollars and deposited into the State General Fund. Retirement funds are also authorized to invest in digital assets directly through secure custody solutions or regulated exchange-traded products (ETPs).

A Growing Trend Among U.S. States

Oklahoma is part of a broader movement, with eight U.S. states now exploring the creation of Bitcoin Strategic Reserves. Formal legislation has been introduced in six states as of January 15, 2025.

In November 2024, Representative Mike Cabell initiated a similar proposal in Pennsylvania, followed by Representative Giovanni Capriglione in Texas a month later. In December, Ohio joined the push with a bill introduced by Representative Derek Merrin advocating for Bitcoin adoption at the state level.

New Hampshire and North Dakota became the latest states to join this trend, introducing their Bitcoin reserve proposals in January 2025.

The movement has gained significant momentum thanks to advocacy efforts led by Dennis Porter, co-founder and CEO of the Satoshi Action Fund. Porter aims to see 12 states introduce Bitcoin reserve legislation by the end of the first quarter of 2025.

Additionally, other state officials, such as Alabama State Auditor Andrew Sorrell and Florida Chief Financial Officer Jimmy Patronis, have called for Bitcoin to be added to state treasuries as a hedge against inflation.

Oklahoma's proposed Bitcoin reserve represents another step in the ongoing integration of digital assets into state-level fiscal strategies.