The Oklahoma State Legislature has overwhelmingly approved the Strategic Bitcoin Reserve Act, with 77 votes in favor and only 15 against. The measure underscores an emerging trend of incorporating Bitcoin into state financial reserves, signaling a possible path for other states to follow suit.
With the ratification of the Strategic Bitcoin Reserve Act, Oklahoma will allocate up to 10% of its public funds to Bitcoin investment. Representative Cody Maynard, the bill’s lead author, highlighted the importance of Bitcoin in protecting against inflation and promoting financial independence. He stated:
“Bitcoin represents freedom from bureaucrats printing our purchasing power. As a decentralized form of money, Bitcoin cannot be manipulated or created by government entities. It is the ultimate store of value for those who believe in financial freedom and sound money principles.”
Implementation of the project requires additional staff for management and supervision, with an initially estimated fiscal impact of US$210.000.
BIG BREAKING: ‘Strategic Bitcoin Reserve’ passes out of committee in Oklahoma with a vote count of 12-2.
Thank you to the leadership by @CodyMaynard15 who carried the SBR bill.
—Dennis Porter (@Dennis_Porter_)
February 25, 2025
While the bill has faced opposition due to concerns about Bitcoin’s volatility, as expressed by Congressman Steven Kelly, it has also generated interest in several other regions. Industry influencers such as Dennis Porter have endorsed the initiative, praising it for its leadership and forward-thinking approach.
Experts, including Nic Carter, warn of the potential impacts of this adoption on the value of the dollar and financial stability. Although there are mixed opinions, adopting Bitcoin as a strategic reserve could strengthen its value proposition, changing traditional financial reserve strategies.
At the time of publication, the price of Bitcoin was quoted at US$86.838,67, up 0,6% in the last 24 hours.