US States Are Pushing for a Bitcoin Reserve

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.

Lawmakers in the United States are making a push to establish a strategic Bitcoin reserve, reflecting the growing adoption of the digital asset in public finance. In Oklahoma and Texas, new proposals have been introduced to allocate a portion of state funds to Bitcoin.

In Texas, State Senator Charles Schwertner has introduced a bill that would make Bitcoin a reserve asset, allowing the state to collect taxes, fees, and donations in BTC. The bill, if passed, would also allocate a portion of the state's rainy day fund to be used for purchasing Bitcoin.

“It's time for Texas to lead the way in establishing a Strategic Bitcoin Reserve,” Schwertner said in a statement on X (Formerly Twitter). “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.”

The move comes as Texas, which has the largest budget surplus among US states, is considering strategies to bolster its financial standing. Schwertner's proposal aims to position Texas as a leader in the adoption of Bitcoin as a strategic reserve asset.

Meanwhile, Oklahoma Representative Cody Maynard introduced House Bill 1203 on Wednesday, which is known as the Strategic Bitcoin Reserve Act. The bill proposes allocating a portion of the state's pension funds and savings accounts to Bitcoin.

“Bitcoin represents freedom from bureaucrats printing away our purchasing power. It is the ultimate store of value for those who believe in financial freedom and sound money principles,” Maynard said in a statement.

The effort to integrate Bitcoin into state finances is not limited to Oklahoma and Texas. In November 2024, Pennsylvania lawmakers proposed that the state Treasury invest up to 10% of its assets in Bitcoin.

“We can follow the lead of private asset managers like BlackRock and Fidelity, who are already offering their customers the ability to hold Bitcoin in their retirement accounts,” said Representative Mike Cabell, who introduced the bill.

On January 10, North Dakota and New Hampshire joined the trend, introducing their own Bitcoin reserve bills. Notably, New Hampshire's legislation uses broader terminology like “digital assets,” indicating a potential interest in cryptocurrencies beyond Bitcoin.

Currently, 13 US states are considering Bitcoin reserve legislation, marking a significant shift in the role of Bitcoin within public finance.

The interest in Bitcoin reserves extends beyond the United States. Countries like Japan, Switzerland, and Russia are exploring strategies to incorporate BTC into their financial systems. Vancouver, for example, has already approved Bitcoin as part of its municipal reserves.

Asset management firm VanEck also predicts that adopting Bitcoin reserves could reduce the US national debt by 36% by 2025. These developments signal Bitcoin's rising significance as governments and institutions seek innovative solutions to strengthen their financial resilience.