Oklahoma and Texas Move Forward with Bitcoin Reserve Proposals

Lawmakers in Oklahoma and Texas are pushing forward proposals to establish a strategic Bitcoin reserve, reflecting the growing adoption of the digital asset in public finance.

In Texas, State Senator Charles Schwertner introduced a bill to make Bitcoin a reserve asset, allowing the state to collect taxes, fees, and donations in BTC.

States are Pushing for a Bitcoin Reserve

With the largest budget surplus among US states, Texas aims to leverage Bitcoin as part of its financial strategy. According to Schwertner’s proposal, the state wants to be the first to establish such a reserve to become a leader in this space.

“It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve,” Schwertner wrote on X (Formerly Twitter).

President-elect Trump’s inauguration is less than a week away, and it’s evident that Republican state leaders will relentlessly try to adopt BTC as a strategic reserve asset – at least at the state level, if not as a national reserve.

Meanwhile, Oklahoma Representative Cody Maynard introduced House Bill 1203 today, dubbed the Strategic Bitcoin Reserve Act. The bill proposes allocating a portion of the state’s pension funds and savings accounts to Bitcoin.

Like other states, Oklahoma also wants to use BTC as a potential hedge against inflation.