TLDR

• Oklahoma House Bill 1203 (Strategic Bitcoin Reserve Act) passed the Government Oversight Committee with a 12-2 vote, heading to House floor for final vote
• If enacted, Oklahoma could invest up to 10% of public funds in Bitcoin and other digital assets with market caps exceeding $500 billion
• While Oklahoma moves forward, five states (Montana, North Dakota, Pennsylvania, South Dakota, Wyoming) have rejected or killed similar Bitcoin reserve bills
• Supporters like Rep. Cody Maynard frame the legislation as protection against monetary devaluation, calling Bitcoin “the ultimate store of value”
• Critics worry about volatility risks and potential market disruption from large-scale government Bitcoin purchases

Oklahoma is getting closer to becoming the first U.S. state to add Bitcoin to its public funds. House Bill 1203, known as the Strategic Bitcoin Reserve Act, passed a key committee vote on February 25, 2025, with strong support of 12-2.

The bill now moves to the full House floor for final decision. If passed, it would allow Oklahoma to invest up to 10% of its public funds in Bitcoin and other large digital assets worth over $500 billion.

Currently, Bitcoin is the only cryptocurrency that meets this size requirement. The bill also allows investment in stablecoins.

Representative Cody Maynard introduced the bill in January 2025. He believes it will protect Oklahoma citizens from inflation.

“This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard said. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also showing Oklahoma’s leadership in adopting new fiscal policies.”

The legislation would take effect on November 1 if it passes all remaining hurdles. It targets money from the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund.

Maynard sees Bitcoin as a way to fight against devaluation of money. “Bitcoin represents freedom from bureaucrats printing away our purchasing power,” he stated when introducing the bill.

Other States

Not all states share Oklahoma’s excitement about Bitcoin reserves. Five states have already rejected or effectively killed similar bills.

Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming have all backed away from Bitcoin reserve proposals. Montana Representative Steven Kelly expressed concern about risk: “It’s still taxpayer money, and we’re responsible for it, and we need to protect it.”

Some industry experts also have concerns. Nic Carter, co-founder of Castle Island Ventures, warns that large government Bitcoin purchases could cause serious market problems.

“If the likelihood of the Lummis SBR proposal approaches certainty, financial markets would collapse,” Carter said, referring to similar federal legislation.

Despite these worries, interest in state-level Bitcoin reserves continues to grow. According to BitcoinLaws.io, 25 bills related to strategic Bitcoin reserves are making their way through 18 state governments.

This legislative movement happens as cryptocurrency becomes more mainstream. The 2025 Cryptocurrency Adoption and Consumer Sentiment Report shows that 28% of American adults now own digital assets, nearly double the number from 2021.

Among crypto owners, Bitcoin remains the most popular choice, with 74% holding BTC in their portfolios.

The outcome of Oklahoma’s vote could influence how other states approach digital assets in their financial strategies. If successful, more states might consider adding Bitcoin to their reserves.

Oklahoma’s Strategic Bitcoin Reserve Act represents a potential shift in how governments view and utilize cryptocurrency in their financial planning.