Oklahoma House Committee Approves Bill to Allow Bitcoin Investment of Public Funds

On February 25, 2025, Oklahoma House Bill 1203, the Strategic Bitcoin Reserve Act, advanced from the Government Oversight Committee with a 12-2 vote. The bill now proceeds to the House floor for debate and potential amendment or voting. Introduced on January 15, 2025, by Representative Cody Maynard, HB 1203 would authorize the Oklahoma State Treasurer to invest public funds into digital assets, specifically Bitcoin, that have maintained a market capitalization of $500 billion over the past year. The bill also allows investment in stablecoins, aiming to hedge against inflation by allocating a portion of state pension and savings plans to these digital assets. While Oklahoma moves forward, five other states—Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming—have either rejected or stalled similar Bitcoin reserve bills, citing concerns over volatility and risk to taxpayer money.