Maynard Passes Strategic Bitcoin Reserve Act to Protect and Grow Oklahoma’s Financial Future
OKLAHOMA CITY – Rep. Cody Maynard, R-Durant, on Monday passed the Strategic Bitcoin Reserve Act in the Oklahoma House of Representatives. House Bill 1203 would allow Oklahoma’s state savings accounts and pension funds to invest in digital assets like Bitcoin. "This is a groundbreaking initiative to position Oklahoma as a national leader in embracing sound money principles and cutting-edge fiscal policy," Maynard said. "It's aligned with President Trump’s vision for digital assets and financial stability." HB1203 would authorize the state treasurer to invest up to 5% of the funds in the state General Revenue Stabilization Fund and Constitutional Reserve Fund in bitcoin or any other digital asset with a market cap of over $500 billion and stable coins. Any state retirement pension also may invest in the same manner if the legislation is enacted. Maynard said the investments would be managed prudently to meet the needs of fund managers. They would generate reliable returns for citizens and safeguard purchasing power against inflationary pressures. He said Bitcoin has proven to be stable over the last 10 years, producing an average annual return of about 49%. “Bitcoin represents freedom from bureaucrats printing away our purchasing power,” Maynard said. “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.” The Strategic Bitcoin Reserve Act would ensure Oklahoma is prepared for a future where digital assets play a pivotal role in the global economy, Maynard said. By allowing state funds to responsibly invest in Bitcoin, the legislation would provide a hedge against inflation and reinforce Oklahoma’s commitment to fiscal responsibility and forward-thinking governance. “This bill is about protecting the hard-earned money of Oklahoma’s citizens,” Maynard continued. “By diversifying our state’s savings and pension funds into digital assets, we are not only securing a stronger financial future for our state but also demonstrating Oklahoma’s leadership in adopting innovative fiscal policies.” The Strategic Bitcoin Reserve Act underscores Maynard’s belief in leveraging technology to empower individuals and governments alike. With Bitcoin’s finite supply and decentralized nature, he said it represents a unique opportunity to strengthen Oklahoma’s financial foundation and ensure sustainable growth for generations to come. Maynard pointed out that without the passage of this legislation, fund managers could currently invest in Bitcoin or in riskier digital currencies without any cap, so this legislation puts prudent guardrails around the state's investment of taxpayer dollars. HB1203 now moves to the Senate where it is authored by Sen. Avery Frix, R-Muskogee.