Oklahoma Rejects Bitcoin Reserve Bill as Other U.S. States Push Forward
Oklahoma’s bid to become one of the first U.S. states to hold a strategic Bitcoin reserve has officially failed.
On Monday, the Senate Revenue and Taxation Committee narrowly rejected House Bill 1203 — the Strategic Bitcoin Reserve Act — in a 6–5 vote. The decision came despite growing support and a surprising last-minute vote switch by Sen. Christi Gillespie.
Gillespie, who had intended to vote against the bill “up until this afternoon,” explained that she changed her stance after “a couple of constituents” contacted her.
“A lawmaker changed their ‘No’ vote to a ‘Yes’ because they heard from their Bitcoiner constituents!” tweeted Dennis Porter, CEO and co-founder of Satoshi Action Fund, encouraging Bitcoin advocates to keep the pressure on lawmakers. “Your voice matters!”
Ultimately, the measure failed to pass, with Republican Senators Todd Gollihare, Chuck Hall, Brent Howard, and Dave Rader, along with Democrats Julia Kirt and Mark Mann, voting against it.
HB1203, introduced in January by Rep. Cody Maynard, would have empowered Oklahoma’s state treasurer to invest in Bitcoin and other qualified digital assets — specifically those with a market cap of over $500 billion for the past 12 months. Currently, Bitcoin is the only digital asset that meets that criteria.
The bill had previously cleared an earlier committee in February with a decisive 12–2 vote, setting the stage for this week’s high-stakes decision.
With Oklahoma stepping back, the spotlight now shifts to other states actively pursuing similar strategies, including New Hampshire, Texas, and Arizona.
This marks another setback for state-led Bitcoin reserve initiatives, following recent rejections in Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming.
New Hampshire, however, made notable progress on April 10 when its House approved HB302 — a bill allowing up to 10% of the state’s general fund to be invested in Bitcoin and precious metals — in a 192–179 vote. The legislation now heads to the Senate.
That same day, Florida’s House Insurance and Banking Committee unanimously passed HB487, which proposes allocating up to 10% of certain state funds to Bitcoin investments.
Arizona continues to push forward as well. On March 24, the state’s House Rules Committee approved SB1373 and SB1025 — twin bills that would authorize the Arizona State Treasurer to invest public funds in Bitcoin. Both await a full floor vote before potentially moving to Governor Katie Hobbs for final approval.
In Texas, the Senate passed SB-21 on March 6 in a 25–5 vote after heated debate — signaling strong momentum behind the Bitcoin reserve effort there.
According to data from Bitcoin Laws, 47 State Bitcoin Reserve bills have been introduced across 26 states, with 40 bills still active in 20 states.
