Shoving 5 gallons @ atmosphere into that bottle wouldn't be a problem. Keeping 5 gallons in the bottle would be though.
When you look at the invoice for compressed gas it shows cubic feet compressed to **psi @ 70°f. Oxy is a very compressible gas and behaves nicely under compression. Even has big molecules that don't try sneaking out of the vessel, unlike Helium.
Stumbling thru my brain I also recall the 60s was the time frame when GM began experimenting with space saver spare 'tires' more appropriately devices that caused grown men to park & laugh. The sidewalls were accordion pleated and the rest of the setup was a Co2 cylinder that screwed onto the tire valve. The instruction manual was adequate to the task, presuming Beverly or Fred wasn't scared spitless of small pressure vessels and had a clue. It also presumed the gas bottle would eventually be found hidden in the trunk. These presumptions were incorrect given some of the language I heard from ladies attempting to employ the device.
GM even sold a fiber cone that could be attached to the Co2 bottle to use the bottle for firefighting, difficult fires like when you realized somebody left a pack of matches in the ash tray.
The bottle was also advertised as refillable. It could be done, but National wouldn't even try after Junior got kicked across the shop by one.
Those were the fun days.