- Oklahoma has approved a bill to create a state Bitcoin reserve amid market downturn.
- The bill has been passed with a 12-2 vote, signaling growing institutional interest in Bitcoin.
While Bitcoin’s price is taking a bit of a tumble, Oklahoma just cleared a major hurdle with its Strategic Bitcoin Reserve (SBR) bill, which sailed through a legislative committee with a strong 12-2 vote.
Notably, Oklahoma plans to build up its own Bitcoin stash. They’re thinking ahead about financial stability and how to weather any economic storms that might be brewing.
Dennis Porter, who runs the Satoshi Action Fund, was pumped about the vote. He made sure to give a special thank you to Republican Representative Cody Maynard for championing the bill, stating,
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.
Regardless of what Bitcoin’s price is doing today, it looks like Oklahoma’s playing the long game.
A Step Toward Financial Innovation
Oklahoma’s making waves while some other states are hitting roadblocks. Montana and North Dakota tried similar Bitcoin bills but couldn’t get them across the finish line. Oklahoma’s success stands out
Worth noting that more than 28 states have put forward bills to let their treasuries buy Bitcoin. And 15 of those bills have moved forward for further consideration. That’s pretty significant! It shows that more and more state governments are starting to see Bitcoin as a serious option for strengthening their financial position, not just some passing tech trend.
For example, 12 U.S. states have invested $330 million in MicroStrategy, a company known for its large Bitcoin holdings. These investments, made through state pension funds and treasury accounts, highlight a shift in institutional sentiment toward Bitcoin.
State-by-State Bitcoin Adoption
Several states are actively pursuing Bitcoin reserves:
- Pennsylvania: In November 2024, Pennsylvania proposed a bill allowing the state treasury to hold Bitcoin. The bill would enable investments of up to 10% of the state’s general fund, investment fund, and rainy day fund, totaling billions of dollars.
- Florida: Florida is expected to join the Bitcoin reserve race in early 2025. With support from key leaders like Governor Ron DeSantis, the state is well-positioned to adopt a Bitcoin reserve.
- Texas: Texas introduced Senate Bill 778 in December 2024, proposing a separate Bitcoin reserve. The bill would allow the state to hold Bitcoin as an asset and accept donations from residents.
- Ohio: Ohio’s Bitcoin Reserve Act, introduced in December 2024, grants the State Treasurer authority to purchase Bitcoin, positioning the state as a leader in digital asset adoption.
- Alabama: State auditor Andrew Sorrell has called for a strategic Bitcoin reserve, aiming to make Alabama a crypto-friendly state and benefit from the growth of new technologies.
- North Dakota: In January 2025, North Dakota proposed a resolution to allocate state funds to digital assets, signaling a broader strategy for digital asset inclusion.
- New Hampshire: A bill introduced in January 2025 would allow the state treasury to invest in Bitcoin and engage in activities like staking or lending digital assets.
While this article focuses on a few states leading the way, many others are also working on similar plans. Across the U.S., more and more states are showing interest in Bitcoin as a way to strengthen their finances.