Oklahoma Drops Proposal to Hold Bitcoin in State Reserves
The plan to establish a Bitcoin reserve in Oklahoma has been shot down by the state Senate. But the story doesn’t end there—other states have crypto ambitions of their own.
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Oklahoma's push to create a state-level Bitcoin reserve has hit a wall. The controversial HB1203 bill—meant to grant the state treasurer authority to invest in large-cap digital assets worth more than $500 billion—was narrowly struck down in the Senate's Tax and Revenue Committee.
The bill failed by a single vote: 6 “No,” 5 “Yes.”
It came down to the wire. Senator Kristi Gillespie reversed her earlier stance and voted in favor of the bill, citing outreach from Bitcoin-supporting constituents. But her switch wasn’t enough to tip the scales—both Republicans and Democrats voted to block the measure.
Originally filed in January, HB1203 had cleared its first committee with a commanding 12–2 vote, emerging as one of the nation’s most promising legislative attempts to establish a state-backed Bitcoin reserve. Its rejection now signals a meaningful pause in the momentum toward integrating crypto into state-level fiscal frameworks.
Read more: Oklahoma Paves the Way for Bitcoin Integration
The State-Level Bitcoin Reserve Movement Marches On
Although Oklahoma's Bitcoin reserve bill was voted down, similar proposals continue to gain legislative traction in other states.
House Bill 302 in New Hampshire has passed the state’s House of Representatives with a vote of 192 in favor and 179 opposed.
The bill authorizes the state to invest up to 10% of its reserve fund in Bitcoin and precious metals. It now awaits review by the state Senate.
- In Florida, House Bill 487—authorizing partial allocation of public funds into digital assets—has secured unanimous committee support.
- Arizona has advanced two companion bills through committee review, with both now awaiting a vote in the House. Upon passage, they will move to the governor for signing.
- Texas remains the leading advocate of crypto reserves, with the Senate passing a strategic BTC reserve bill in early March by a vote of 25 in favor and 5 opposed.
Per Bitcoin Laws, a total of 47 state-level legislative efforts focused on Bitcoin reserves have been introduced across 26 states in 2025 alone. Of those, over 40 bills are still in the legislative pipeline.
Although several proposals were recently rejected in Montana, North and South Dakota, Pennsylvania, and Wyoming, national legislative interest remains strong. Competition among states to be the first to implement an official Bitcoin reserve continues to escalate.
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