## Montana’s Bitcoin Reserve Bill Falls Short
Montana’s efforts to boost its financial resources with Bitcoin (BTC) hit a snag on February 21, as the state’s House of Representatives voted against a bill that sought to designate the world’s oldest and most valuable digital currency as a state reserve asset.
## Montana House Rejects Bitcoin Reserve Bill
House Bill 429, introduced earlier this month by Representative Curtis Schomer, aimed to create a special revenue account that would allow for up to $50 million in investments in stablecoins, precious metals, and crypto assets with an average market capitalization exceeding $750 billion over the past year—a benchmark that only Bitcoin currently meets. Schomer expressed that the intention was to diversify the state’s assets and potentially achieve higher returns compared to traditional bond investments.
Despite some backing, the bill faced significant opposition, primarily due to concerns about the speculative nature of such investments. Ultimately, the House voted 41-59 against the proposal. Many Republican representatives voiced worries that the plan would enable Montana’s investment board to engage in excessive speculation with taxpayer funds. “It’s still taxpayer money, and we’re responsible for it, and we need to protect it,” stated State Rep. Steven Kelly during the House Floor Session on Friday, emphasizing that “these types of investments are way too risky.”
This decision came just days after Montana’s business and labor committee had passed House Bill 429 with a 12-8 vote, where all Republicans supported it and all Democrats opposed. With the bill effectively dead, any future proposals for a Bitcoin reserve would need to be reintroduced in Montana’s legislature.
## State and National Pushes for Bitcoin Reserve
While Montana is taking a cautious approach, the movement for Bitcoin reserves is gaining traction in other parts of the country. Approximately 24 states, including Arizona, Illinois, Maryland, New Hampshire, New Mexico, Kentucky, Ohio, Pennsylvania, North Dakota, South Dakota, Texas, Oklahoma, and Georgia, have introduced legislation aimed at establishing a Bitcoin reserve.
Utah’s HB230 Blockchain and Digital Innovation Amendments bill, which permits the state treasurer to allocate around 5% of public resources to digital assets, has made the most significant regulatory progress thus far. Meanwhile, countries like Switzerland, Brazil, Japan, and Russia are also exploring the possibility of adding Bitcoin to their strategic national reserves.
