On January 15, 2025, Oklahoma state Representative Cody Maynard introduced House Bill 1203, known as the Strategic Bitcoin Reserve Act. This legislation aims to establish Bitcoin as a strategic reserve asset for the state's pension funds and savings accounts, allocating a portion of these assets to Bitcoin to hedge against inflation. Maynard emphasized Bitcoin's role as a decentralized form of money, independent of government manipulation, and a safeguard for citizens' purchasing power. The bill is part of a broader trend, with several US states considering similar legislation. For instance, in November 2024, Pennsylvania lawmakers proposed legislation allowing the state Treasury to invest up to 10% of its assets in Bitcoin, while Texas lawmaker Giovanni Capriglione introduced a bill for the Texas comptroller to hold Bitcoin as a reserve asset. Other states, including North Dakota and New Hampshire, have also proposed bills aimed at diversifying their state reserves into cryptocurrencies, showcasing the growing institutional interest in Bitcoin as a viable asset class.

Source 🔗