The Oklahoma House Bill 1203 (HB 1203), also called the Strategic Bitcoin Reserve Act, has cleared the Government Oversight Committee with a 12–2 vote on Feb. 25, 2025. The bill will now proceed to the House floor, where it may be debated, amended, or put to a vote.
Proposed by Representative Cody Maynard, HB 1203 would authorize the Oklahoma State Treasurer to allocate public funds into digital assets that have maintained a market capitalization of at least $500 billion over the previous calendar year. As of now, Bitcoin (BTC) is the only cryptocurrency that meets this requirement. Additionally, the bill would allow investments in stablecoins.
When introducing the legislation on Jan. 15, 2025, Maynard emphasized Bitcoin’s role in financial sovereignty, stating, “Bitcoin represents freedom from bureaucrats printing away our purchasing power. As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.”
Under this proposal, the state treasurer could allocate a portion of Oklahoma’s pension and savings funds into Bitcoin as a safeguard against inflation. According to BitcoinLaws.io, a total of 25 bills related to Bitcoin reserves are currently under consideration in 18 different states.
Several States Reject Bitcoin Reserve Bills
Despite the push for Bitcoin reserves in some regions, five states—Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming—have either dismissed or shelved similar bills.
The reasons behind these rejections vary, but in Montana, some legislators voiced concerns over using taxpayer money for digital asset investments. Representative Steven Kelly argued, “It’s still taxpayer money, and we’re responsible for it, and we need to protect it,” while also pointing out that “these types of investments are way too risky.”
Bitcoin’s volatility remains a key concern for skeptics. Although the cryptocurrency has delivered strong long-term returns, its dramatic price swings raise doubts, particularly among conservative lawmakers. Notably, four of the five states that rejected their Bitcoin reserve bills lean Republican.
The idea of governments holding Bitcoin as a reserve asset sparks mixed reactions within the crypto community. While some see it as a step toward mainstream adoption, others fear it could lead to increased centralization and market manipulation.
Although Satoshi Nakamoto may not have envisioned Bitcoin as a government-held reserve asset, some enthusiasts argue that state-level adoption aligns with its original principles of financial independence and sound money.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
