The state level Strategic Bitcoin Reserve race is on, with Arizona in the lead–its just a governor’s signature away from passing the first state-level Strategic Bitcoin Reserve.
There are now over 34 Strategic Bitcoin Reserve bills across 22 states, with only 6 states dropping out so far. It’s likely we see several Strategic Bitcoin Reserve pass bicamerally and head to governors desks for final signing next month!
We’ll break all the action down with the help of the tracking website, Bitcoin Laws.Source: BitcoinLaws.io
Arizona Strategic Bitcoin Reserve bill
Impressively, Arizona had two bills slated for a final Senate vote this week–SB1373 and SB1025–and they both passed. Why two?
Well, they do different things plus the funding comes from different sources.
- SB1373 is similar to the executive order for the national stockpile: the reserve consists of seized assets and appropriations, not from additional purchases.
- SB1025 would allow the state, treasury, and retirement systems to invest up to 10% of their holdings into “virtual currencies.”
These two bills mirror what’s being discussed at a national level: a stockpile versus actively allowing the state to purchase more bitcoin (in this case, numerous digital assets).Source: Arizona State Legislature Livestream
Both AZ bills have crossed over the legislative finish line and just need a signature from Arizona governor Katie Hobbs.
However, it’s not a done deal; Hobbs is a Democrat and it’s possible that she might veto both bills as part of her ongoing budgetary and political fight with the Republican-controlled legislature.
Keep scrolling to get an update on Oklahoma and Texas’ efforts to get an Strategic Bitcoin Reserve done!
Check out previous writeup comparing all the state-level Strategic Bitcoin Reserve bills, one of the most read pieces from Blockspace in 2025.
Read: State-level Strategic Bitcoin Reserve proposals, explained
Oklahoma Strategic Bitcoin Reserve bill
In a close call of 6 to 5, the Oklahoma Revenue and Taxation Committee recently quashed HB 1203.
“It’s tough to lose a bill by one vote and we were optimistic we could get the bill to the Senate floor. Going into next year, we’re confident we know exactly what we need to get the job done,” Storm Rund, President of the Oklahoma Bitcoin Association, told Blockspace.
Many such cases.
A bill’s success or failure is typically more dependent on who’s sponsoring it and the prevailing attitude of the legislators than it is on the actual content of the bill itself.
For example, the Pennsylvania bill has similar language to Arizona’s, but it didn’t even make it to the House.
Why? The bill’s sponsor didn’t get reelected before the 2025 legislative session.
Oklahoma joins Montana, North Dakota, Pennsylvania, South Dakota, and Wyoming headed back to the drawing board for a 2026 attempt at a Strategic Bitcoin Reserve.
Texas Strategic Bitcoin Reserve bill
That’s right – multiple states have two Strategic Bitcoin Reserve filings. Never to be out gunned, Texas has three Strategic Bitcoin Reserve variants.
Generally, differences are:
- source of funding
- how the funding can be used
- and finer details such as disclosure or active management.
In the case of Texas, the three bills differ in strategy between actively managed vs. Bitcoin-hodl vs. limited crypto investments.
As with Arizona, these may not be mutually exclusive, but they can muddy the waters if the bills aren’t differentiated enough in the minds of legislators.
Here’s a quick comparison of the high points of the three Texas Strategic Bitcoin Reserve bills.
| S.B. 21 (Schwertner) | H.B. 4258 (Reynolds) | S.B. 778 (Schwertner) | |
| Core Purpose | Create a strategic, actively managed Bitcoin reserve with broad crypto handling authority. | Authorize limited Bitcoin/crypto investments by state and local governments. | Create a Bitcoin custody reserve focused on holding, not active trading. |
| Fund Type | Separate special fund outside treasury, flexible investment powers. | No fund created — only limited investment from existing funds. | Special fund inside the state treasury — strictly for Bitcoin custody. |
| Who Controls It | Comptroller + five-member expert advisory committee (private sector crypto professionals). | Comptroller, cities, and counties — no advisory body. | Comptroller + five-member political advisory committee (legislative leadership + Comptroller). |
Similarly, multiple Strategic Bitcoin Reserve bills exist in Ohio, Montana, North Carolina, Iowa, Florida, and Alabama.
While they don’t exactly mirror Texas’ own, there are similar overlaps and differences between them, usually concerning the source of funding and which assets the government can invest in.
