Key Points:
- Montana Bitcoin Reserve initiative progresses as House Bill 429 clears committee vote.
- The bill aims to allocate up to $50 million for Bitcoin and other assets in the state reserve.
Montana Bitcoin Reserve proposal advances, allowing the state to allocate funds to Bitcoin and other assets, signals growing state-level crypto adoption.
Montana Bitcoin Reserve Bill Gains Momentum
House Bill 429, introduced by Representative Curtis Schomer, marks a significant step in integrating Bitcoin into Montana’s financial framework. The bill recently passed a key committee vote (12-8), with unanimous Republican support and Democratic opposition.
It now moves to the full Montana House for further discussion, followed by potential approval in the state Senate and governor’s endorsement.
This legislation would allow the state to invest in Bitcoin and other eligible assets under a newly created special revenue account if approved.
Read more: Maryland and Kentucky Move to Build Strategic Bitcoin Reserves Amid Growing State Interest
Structure and Implications of the Bill
The bill proposes an investment framework where up to $50 million from Montana’s general fund could be transferred into the reserve account by July 15, 2025.
This account would support investments in Bitcoin, stablecoins, and precious metals, provided they meet a market capitalization threshold of $750 billion over the past year.
As of now, Bitcoin is the only digital asset that qualifies. A key amendment removed prior restrictions requiring assets to be held via custodians or ETFs, granting the state greater flexibility in managing its Bitcoin investments.
Montana Joins the U.S. Bitcoin Reserve Movement
Montana is the latest state to consider Bitcoin reserves, following legislative efforts in Utah, Arizona, and Oklahoma. While Utah is currently leading in this initiative, Montana’s progress signals a growing interest in state-backed Bitcoin investments. Other states, including Texas, New Mexico, North California, and Illinois, have also explored similar legislation.
At the federal level, progress remains slow, despite efforts from lawmakers like Senator Cynthia Lummis, who advocates for a national Bitcoin reserve strategy.
If Montana successfully enacts this bill, it could pave the way for broader adoption across U.S. state governments.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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