Oklahoma has joined a number of states trying to establish similar legislation and has been the latest to introduce a bill that would create a strategic Bitcoin reserve. Truly Oklahoma State representative Cody Maynard officially announced the introduction of the state’s “Strategic Bitcoin Reserve Act” on Wednesday.
The move is consistent with expectations that US President-elect Donald Trump would enact similar legislation at the federal level. US Senator Cynthia Lummis has already introduced the Bitcoin Act. In addition, she has discussed its implementation with key members by the Trump administration in recent months.
JUST IN: 🇺🇸 Oklahoma introduces “Strategic Bitcoin Reserve Act” to buy and hold Bitcoin as a government asset.
— Watcher.Guru (@WatcherGuru) 15 January 2025
Oklahoma is the latest state to introduce bitcoin reserve legislation ahead of Trump’s return
Ahead of 2025, the financial sector had a keen eye on the cryptocurrency market. With Donald Trump who would return for his second consecutive term in the Oval Office, he brought with him a pro-crypto mindset. After that, it was poised to propel the asset class to new heights.
Now, states across the country are aligning their policies with the president-elect. Among them is Oklahoma, which has just announced the introduction of its own bill to establish a strategic Bitcoin reserve. The legislation announces the state’s initiative to become “a national leader in embracing sound monetary principles and pioneering fiscal policies.”
The bill would allow government funds to be used to buy and hold Bitcoin, Maynard said. In addition, the representative said the fund would be a critical inflation hedge. Conversley, the bill will be considered at the next legislative session on February 1.
