Oklahoma has taken a bold step forward with the Strategic Bitcoin Reserve Act, introduced by Representative Cody Maynard. The bill positions the state as a leader in adopting sound money principles while protecting its financial reserves against inflation.
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The Bill Allows Pension Funds to Invest in Bitcoin
House Bill 1203 proposes allocating a portion of Oklahoma’s state savings accounts and pension funds to Bitcoin. Rep. Maynard called Bitcoin the “ultimate store of value” and highlighted its decentralized nature as a safeguard against government monetary manipulation. “This bill is about protecting the hard-earned money of Oklahoma’s citizens,” he stated.
Oklahoma Follows Other States in Exploring Bitcoin Reserves
Oklahoma isn’t alone in this endeavor. Pennsylvania recently introduced a bill permitting its Treasury to invest up to 10% of assets in Bitcoin, while Texas and New Hampshire have filed similar proposals. Advocates argue that Bitcoin’s finite supply and growing adoption make it a valuable hedge against inflation.
The Strategic Bitcoin Reserve Act is set to be discussed in February, with an implementation date of November if approved. As Bitcoin gains momentum as a Fiscal tool, Oklahoma’s initiative showcases the growing belief in digital assets as a foundation for financial stability.
At the time of writing, Bitcoin is sitting at $104,682.04.
