Official Oklahoma State financial reports or press releases

Oklahoma Introduces Strategic Bitcoin Reserve Act, Currently on Hold

Jan 15, 2025, 07:50 PM

Oklahoma State Representative Cody Maynard has introduced the Strategic Bitcoin Reserve Act, a bill that would allow the state to invest in Bitcoin and other digital assets with a market capitalization exceeding $500 billion. The legislation, if passed, would permit up to 10% of funds from the State General Fund ($8.5 billion), Revenue Stabilization Fund ($262 million), and Constitutional Reserve Fund ($1.3 billion) to be allocated to Bitcoin and other qualifying assets. The bill also includes provisions for investing in stablecoins, staking mechanisms, and allows for secure custody options, including self-custody and regulated exchange-traded products. Oklahoma is the sixth state in the U.S. to propose such legislation, joining states like Texas, Pennsylvania, and Ohio. The bill aligns with President Donald Trump’s pro-crypto stance and his vision for financial stability through digital assets. The legislation is currently on hold and is seen as a potential inflation hedge. If approved, the act would take effect on November 1, 2025.