Oklahoma Poised to Become First U.S. State to Invest in Bitcoin

Oklahoma is poised to become the first U.S. state to invest in Bitcoin and other digital assets as part of its public funds. House Bill 1203, known as the Strategic Bitcoin Reserve Act, recently passed the Government Oversight Committee with a 12-2 vote, moving on to the House floor for a final vote.

If enacted, Oklahoma could allocate up to 10% of its public funds to Bitcoin and other digital assets with market capitalizations exceeding $500 billion. Currently, only Bitcoin meets this size requirement, but the bill also allows for investment in stablecoins.

Representative Cody Maynard introduced the bill in January 2025, aiming to protect Oklahoma citizens from inflation. He believes that diversifying the state's savings and pension funds into digital assets will secure a stronger financial future and demonstrate Oklahoma's leadership in adopting new fiscal policies.

The legislation, if passed, would take effect on November 1. It targets funds from the State General Fund, Revenue Stabilization Fund, and Constitutional Reserve Fund.

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

However, not all states share Oklahoma's enthusiasm for Bitcoin reserves. Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming have all rejected or effectively killed similar bills. Montana Representative Steven Kelly expressed concern about risk, stating, “It’s still taxpayer money, and we’re responsible for it, and we need to protect it.”

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.

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