Lawton, OK— Oklahoma Representative Cody Maynard has introduced a new piece of legislation, the Bitcoin Reserve Act, designed to position the state for the growing influence of digital assets in the global economy. The bill aims to allow Oklahoma’s state savings accounts and pension funds to invest in cryptocurrencies, including Bitcoin, with the goal of enhancing financial returns while safeguarding against inflation.
Maynard, who presented the bill today, emphasized the potential for digital assets like Bitcoin to play a significant role in future economic systems. The proposed legislation would enable state-managed funds to diversify their investment portfolios by incorporating digital currencies, a move that could provide new revenue streams and stabilize fund performance.
“The Bitcoin Reserve Act ensures that Oklahoma is prepared for a future where digital assets are an integral part of the global economy,” Maynard said. “This legislation gives our state the opportunity to not only explore the growth of digital assets but also to safeguard our public funds in a rapidly changing financial environment.”
If passed, the Bitcoin Reserve Act would allow state pension funds and other savings accounts to make calculated investments in digital currencies. The intent is to generate reliable returns while meeting the needs of fund managers and offering protection against the risks of inflation, which has been a growing concern in recent years.
The bill is slated for consideration in the upcoming legislative session and, if approved, is set to take effect on November 1, 2025. Should the act be enacted, Oklahoma would join a growing list of states exploring innovative approaches to incorporate cryptocurrency into state financial strategies.
As cryptocurrencies continue to gain mainstream recognition, proponents of the Bitcoin Reserve Act argue that it is a forward-thinking step to help ensure Oklahoma’s economic stability in a rapidly evolving digital age. Critics, however, may raise concerns about the volatility of digital assets and their long-term viability as a stable investment.
The upcoming legislative session will determine whether the Bitcoin Reserve Act moves forward, potentially paving the way for Oklahoma to become a leader in cryptocurrency adoption within state finance.
