Another State in the US Prepared a Bill to Invest in Bitcoin! Here are the Details

Oklahoma Representative Cody Maynard introduced the “Strategic Bitcoin Reserve Act” (House Bill 1203), which would allow the state to invest in cryptocurrencies, including Bitcoin, through its savings accounts and retirement funds.

Oklahoma Congressman Proposes Bitcoin Investment Bill for State Funds

This move positions Oklahoma among the increasing number of US states investigating digital asset reserves.

Basic Provisions of the Draft

• Crypto Investment Scope: The design gives the State Treasury the authority to invest in bitcoin, other cryptocurrencies with a market value exceeding 500 billion dollars, and stablecoins.
• Investment Limits: Public funds allocated for cryptocurrency investments should not exceed 10% of the total size of the government’s public funds.
• Staking of Assets: The bill allows the treasurer to stake crypto assets through third-party services, provided that the legal ownership of the assets remains with the state.

With Bitcoin, currently valued at approximately 2 trillion dollars, meeting this threshold, other cryptocurrencies like Ethereum (market value: 406.5 billion dollars) are just below it.

The proposal aligns with President-elect Donald Trump’s strategic vision of creating a national cryptocurrency reserve to solidify the U.S.'s leadership in the global crypto industry.

Maynard said, ‘Bitcoin represents freedom from bureaucrats who print our purchasing power.’ ‘As a decentralized form of currency, Bitcoin cannot be manipulated or created by government institutions. It is the ultimate store of value for those who believe in financial freedom and sound monetary principles.’

Maynard emphasized that these investments will be carefully managed to ensure stable returns, protect citizens’ purchasing power, and hedge against inflation.