Despite early momentum and strong backing in the House, the initiative ultimately fell short in committee, ending the state\u2019s pursuit\u2014for now\u2014of integrating Bitcoin into its public financial strategy.<\/p>\n
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<\/a> <\/strong>on April 15. The outcome was especially notable given a last-minute change by Senator Christi Gillespie, who flipped her vote to \u201cyes\u201d after pressure from constituents. While her reversal showed the growing public interest in crypto-related policy, it wasn\u2019t enough to shift the final result.<\/p>\n 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\u2019s requirements, only Bitcoin\u2014with a market cap north of $1.6 trillion\u2014met the necessary threshold of $500 billion.<\/p>\n