US lawmakers in Oklahoma and Texas propose a bitcoin reserve

Legislators in Oklahoma and Texas are pushing proposals to establish a strategic bitcoin reserve that would reflect the growing use of the digital asset in public finance.

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

States are pushing for Bitcoin reserves.

With the largest budget surplus among US states, Texas plans to use Bitcoin as its financial strategy. According to Schwertner, the state wants to be the first to develop 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 introduced SB 778, which if passed and signed into law, would make Texas the first state in the country 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 clear that Republican government leaders are trying tirelessly to adopt BTC as a strategic reserve asset – at least on a state level, if not as a national reserve.

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

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

“Bitcoin represents freedom from the bureaucracy that robs us of our purchasing power. It's the ultimate store of value for anyone who believes in financial freedom and sound monetary principles,” Menard said.

US lawmakers are recognizing BTC as a store of value.

The movement to integrate Bitcoin into public finance is not limited to these states.

In the year In November 2024, Pennsylvania lawmakers proposed that the state treasury invest up to 10% of its assets in Bitcoin. Representative Mike Cabell emphasized that Pennsylvania could follow suit with private asset managers such as BlackRock and Fidelity.

On January 10, North Dakota and New Hampshire joined the trend by introducing their own Bitcoin reserve accounts. Specifically, New Hampshire law uses broader terms such as “digital assets.” This shows interest in cryptocurrencies beyond Bitcoin.

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

Globally, the demand for Bitcoin stocks is also growing. Countries like Japan, Switzerland and Russia are looking for strategies to incorporate BTC into their financial systems. Vancouver, for example, has approved bitcoin as part of its municipal inventory.

Also, asset management firm VanEck predicts that taking Bitcoin reserves could reduce the US national debt by 36% by 2025. These developments point to the importance of Bitcoin as governments and institutions look for new solutions to strengthen their financial strength.