Oklahoma’s proposal for a state Bitcoin reserve has been rejected following a vote in the Senate Committee.
With a 6–5 vote, the Oklahoma Senate Committee on Finance and Taxation struck down House Bill 1203, also known as the Strategic Bitcoin Reserve Act.
During the vote, Senator Christi Gillespie—who had planned to vote “No” up until that afternoon—changed her position after being contacted by a couple of pro-Bitcoin constituents. Dennis Porter, CEO and co-founder of the Satoshi Action Fund, commented on X:
Despite the last-minute switch, the bill did not pass. Republican Senators Todd Gollihare, Chuck Hall, Brent Howard, and Dave Rader voted against it, along with Democrats Julia Kirt and Mark Mann.
The bill, introduced by Representative Cody Maynard last January, would have allowed the Oklahoma State Treasurer to invest in Bitcoin and other qualified digital assets—defined as those with a market cap exceeding $500 billion over the past year. A previous committee had approved the bill in February with a 12–2 vote.
With Oklahoma now out of the race, New Hampshire, Texas, and Arizona remain the top contenders in the push to become the first U.S. state to establish a strategic Bitcoin reserve.
