YEREVAN (CoinChapter.com) — Oklahoma and Texas are advancing plans to incorporate Bitcoin as a reserve asset. Legislators in both states have introduced bills to integrate Bitcoin into their state financial systems.
Texas Bitcoin Reserve Proposal Gains Attention
Texas State Senator Charles Schwertner introduced Senate Bill 778 to establish a Bitcoin reserve. The bill would permit the state to hold Bitcoin as an asset and receive taxes, fees, and public donations in BTC. Schwertner announced that if the bill passes, Texas would become the first state in the U.S. to adopt a strategic Bitcoin reserve.
“It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve,” Schwertner shared on X. The proposal includes measures such as secure storage through cold wallets, regular audits, and transparency protocols. Funding for Bitcoin purchases would be limited to 1% of the state’s general revenue.
Another proposal, House Bill 1598, introduced by Representative Giovanni Capriglione in December, aims to permit Bitcoin donations and mandates the state comptroller to hold Bitcoin as a reserve for at least five years. Both bills demonstrate Texas’s interest in utilizing Bitcoin for financial diversification.
Oklahoma Introduces Strategic Bitcoin Reserve Act
Representative Cody Maynard introduced House Bill 1203, known as the Strategic Bitcoin Reserve Act, in the Oklahoma House of Representatives on January 15. The bill suggests using a portion of the state’s pension funds and savings accounts to invest in Bitcoin. Maynard highlighted Bitcoin’s potential to safeguard against inflation and preserve purchasing power.
“Bitcoin represents freedom from bureaucrats printing away our purchasing power,” he stated. The proposal underscores Bitcoin’s decentralized nature and limited supply as critical elements for financial security.
If passed, the legislation would enable Oklahoma to strategically allocate assets to Bitcoin, mirroring initiatives in other states.
U.S. States Push Bitcoin Reserve Legislation
The efforts in Texas and Oklahoma are part of a broader trend. In November 2024, Pennsylvania lawmakers proposed investing up to 10% of the state Treasury’s assets in Bitcoin. Representative Mike Cabell endorsed the proposal, citing examples from private firms like BlackRock and Fidelity that utilize Bitcoin for investment diversification.
On January 10, both North Dakota and New Hampshire introduced Bitcoin reserve bills. North Dakota’s proposal already has 11 co-sponsors, while New Hampshire’s bill employs broader language to encompass digital assets beyond Bitcoin.
Currently, 13 U.S. states are pursuing legislation to integrate Bitcoin into their financial strategies, underscoring its increasing acceptance as a financial instrument.
Global Adoption of Bitcoin Reserves
Interest in Bitcoin reserves is expanding worldwide. Countries such as Japan, Switzerland, and Russia are exploring Bitcoin’s role in their financial systems. In Canada, the city of Vancouver has already integrated Bitcoin into its municipal reserves.
A report by asset management firm VanEck projected that adopting Bitcoin reserves could reduce the U.S. national debt by 36% by 2025. This indicates a growing interest in Bitcoin’s capacity to bolster financial resilience.