Oklahoma Advances Bitcoin Investment Bill as BTC Holds Key Support

• Oklahoma advances HB1203, allowing up to 10% of public funds to be invested in Bitcoin, reinforcing the state’s crypto-friendly stance.
• Bitcoin faces a key support test at 83,308 USDT; holding this level could spark a rebound, while a breakdown risks deeper losses.
• Pro-Bitcoin policies in Oklahoma, like the Bitcoin Freedom Act, aim to boost adoption and safeguard financial stability.

According to SolanaFloor, Oklahoma is moving forward with legislation that would see the state investing in Bitcoin and other digital assets. House Bill 1203 has passed through the Oklahoma State House Committee on a strong 12-2 vote. The bill, otherwise known as the Strategic BTC Reserve bill, allows the state treasury to invest as much as 10% of public money in Bitcoin or digital assets that have a market value of over $500 billion. The bill is now pending a full House of Representatives vote.

Rep. Cody Maynard spearheaded this legislative effort, supported by crypto enthusiasts. Oklahoma has also been actively pushing Bitcoin adoption since January 9, 2025, when State Senator Dusty Deevers filed the Bitcoin Freedom Act (SB325). The legislation seeks to make Bitcoin transactions possible between state agencies, businesses, and private transactions. Deevers emphasizes that Bitcoin can be used as an inflation hedge, insulating Oklahomans’ financial security.

Strengthening Bitcoin Adoption in Oklahoma

The state’s commitment to Bitcoin is evident from past legislation. In May 2024, Oklahoma passed the Bitcoin Rights Bill (HB3594), ensuring legal protection for digital asset transactions. Residents are permitted to self-custody their digital assets under this law, which also forbids additional taxes and any state-imposed limitations on the use of Bitcoin. A more favorable climate for cryptocurrency activities is also created by protecting Bitcoin miners from needing a money transmitter license.

Deevers considers Bitcoin’s decentralization a protection of money. He aligns with ex-President Donald Trump in his Bitcoin-friendly position, arguing that decentralization would protect against reckless government spending. If Oklahoma passes HB1203, the state could become a financial technology innovation national leader.

Bitcoin Holds Key Support Amid Market Uncertainty

Meanwhile, Bitcoin is facing critical market movements. Currently, BTC trades at 86,539 USDT, testing a crucial support zone. The 0.618 Fibonacci retracement level at 83,308 USDT presents a key demand area. A bounce from this level could drive prices back to the 92,500 USDT resistance. However, a breakdown could push BTC toward the 66,810 USDT support.

The market structure indicates a retracement phase, with increased volatility. Traders are closely watching whether BTC holds above 83,308 USDT. If buying pressure builds, Bitcoin could resume its bullish momentum. Conversely, failure to maintain support may lead to further declines.