Oklahoma’s attempt to establish a Bitcoin reserve through House Bill 1203 has failed in a Senate committee vote. Despite support from some lawmakers, the bill was rejected 6-5 due to opposition from various senators. Meanwhile, New Hampshire, Texas, and Arizona are still pursuing similar initiatives, with several active proposals across the country.
Oklahoma’s initiative to establish a Bitcoin reserve has been halted following a narrow 6-5 committee vote against House Bill 1203, the Strategic Bitcoin Reserve Act. The Senate Revenue and Taxation Committee’s decision came even after a late change of vote from Sen. Christi Gillespie, who ultimately supported the bill due to advocacy from her constituents.
Despite the push, the proposal was defeated after receiving no votes from key members including Republican Senators Todd Gollihare, Chuck Hall, Brent Howard, Dave Rader, and Democrats Julia Kirt and Mark Mann.
House Bill 1203, introduced by Rep. Cody Maynard, sought permission for Oklahoma’s state treasurer to invest in Bitcoin and other digital assets with a market cap exceeding $500 billion. Currently, only Bitcoin meets this criterion, and while the bill initially gained traction with a 12-2 vote in February, it was ultimately struck down.
With Oklahoma’s proposal rejected, states like New Hampshire, Texas, and Arizona are leading the way in efforts to establish their own Bitcoin reserves. The rejection of such initiatives follows similar outcomes in several other states, including Montana and Wyoming.
Recently, New Hampshire’s House passed HB302, allowing up to 10% of the general fund to be invested in Bitcoin, while Florida’s House Committee approved HB487 for the same purpose. Arizona is also progressing with two bills focusing on public fund investment in Bitcoin, following supportive committee votes. Likewise, Texas recently passed SB-21 in the Senate after a contentious debate.
Across the U.S., 47 State Bitcoin Reserve bills have been proposed in 26 states, with 40 still active in 20 states according to the Bitcoin Laws reserve tracker.
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