Oklahoma Withdraws Bitcoin Reserve Proposal
Oklahoma is stepping away from its bid to create a state-managed Bitcoin reserve after a closely watched proposal failed to clear a key hurdle in the State Senate.
Despite early momentum and strong backing in the House, the initiative ultimately fell short in committee, ending the state’s pursuit—for now—of integrating Bitcoin into its public financial strategy.
The bill, known as House Bill 1203 or the Strategic Bitcoin Reserve Act, was narrowly defeated by the Senate Revenue and Taxation Committee in a 6-5 vote on April 15. The outcome was especially notable given a last-minute change by Senator Christi Gillespie, who flipped her vote to “yes” after pressure from constituents. While her reversal showed the growing public interest in crypto-related policy, it wasn’t enough to shift the final result.
The bill had previously passed through the Oklahoma House with overwhelming support in a 77-15 vote. If enacted, it would have allowed the state treasurer to invest in Bitcoin and certain stablecoins. However, under the bill’s requirements, only Bitcoin—with a market cap north of $1.6 trillion—met the necessary threshold of $500 billion.
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With Oklahoma now backing out, it joins a list of states—including Montana, South Dakota, Wyoming, North Dakota, and Pennsylvania—that have paused or abandoned similar efforts. Still, the broader movement toward crypto-backed reserves continues elsewhere.
According to data from Bitcoin Laws, over 20 states remain active in exploring legislation tied to Bitcoin reserves, with Arizona, Texas, and New Hampshire at the forefront. Nationwide, 117 Bitcoin-friendly bills are currently under consideration, with 47 directly tied to proposals for strategic reserves.
At the federal level, interest is growing as well. Bo Hines, a senior adviser to the presidential administration on digital assets, confirmed that the government is studying creative funding models to support a national Bitcoin reserve—potentially using tariff income or gold-backed Treasury certificates, all without expanding the national budget.
Alexander Stefanov
