tl;dr
Oklahoma's Senate Revenue and Taxation Committee voted 6-5 to reject House Bill 1203, the Strategic Bitcoin Reserve Act, which would have allowed the state treasurer to invest in Bitcoin. Despite a last-minute vote change by Sen. Christi Gillespie influenced by constituent outreach, the bill failed....
Oklahoma’s Senate Revenue and Taxation Committee narrowly rejected the Strategic Bitcoin Reserve Act (HB1203) in a close 6-5 vote, halting the state's effort to establish a Bitcoin reserve. Sen. Christi Gillespie switched her vote to yes following outreach from constituents, but it was not enough to pass the bill.
HB1203 would have given Oklahoma’s state treasurer the authority to invest in Bitcoin and qualifying digital assets with a market cap exceeding $500 billion—currently only Bitcoin meets this criterion. The bill, introduced by Rep. Cody Maynard, had previously passed another committee with a strong 12-2 margin.
While Oklahoma’s attempt failed, other states like New Hampshire, Texas, and Arizona are actively pushing similar legislation. New Hampshire’s House passed a bill allowing up to 10% of the state’s general fund to invest in Bitcoin and precious metals. Florida’s House committee also approved a bill proposing up to a 10% Bitcoin investment of certain state funds.
Arizona is progressing with two bills approved by the state House Rules Committee, awaiting full floor votes, and Texas recently passed a Bitcoin reserve bill in the Senate by 25-5.
Nationwide, 47 Bitcoin Reserve bills have been introduced across 26 states, with 40 still active in 20 states, indicating strong and ongoing legislative interest in state-level Bitcoin investment strategies. Oklahoma’s rejection marks a setback but highlights a growing trend as multiple states compete to become pioneers in this emerging financial frontier.