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The Coin Rise 2025-02-20 08:45:31

Montana Moves Closer to Bitcoin Reserves as House Panel Passes Crypto Bill

Montana Moves Closer to Bitcoin Reserves as House Panel Passes Crypto Bill

Montana has taken a significant step toward integrating Bitcoin into its financial reserves after the House Business and Labor Committee approved House Bill No. 429 in a 12-8 vote on Feb. 19. The vote followed a clear partisan divide, with all Republicans in favor and Democrats opposing the measure. The bill , if passed into law, would establish a special revenue account allowing the state to invest in precious metals, stablecoins, and digital assets with a market cap averaging over $750 billion in the past year. Bitcoin is currently the only cryptocurrency that meets this threshold. This marks the fourth crypto reserve bill at the state level in the U.S., following similar attempts in Utah, Arizona, and Oklahoma. The bill has now advanced to Montana’s House of Representatives, where it will face further scrutiny before it can become law. Notably, lawmakers removed a clause requiring that funds be held by a qualified custodian or through an exchange-traded fund (ETF)—potentially giving Montana’s treasury greater flexibility in managing the reserves. A Growing Trend Among U.S. States If the bill passes the House and Senate, Montana’s state treasurer could allocate up to $50 million to the reserve account by July 15. This money would be used for investments in Bitcoin, stablecoins, and precious metals—marking a shift in how states think about diversifying their reserves. Montana is not alone in exploring this idea. Other states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have also introduced bills proposing a Bitcoin reserve strategy. Among them, Utah has made the most progress, becoming the only state so far to pass a Bitcoin reserve bill through its House. Satoshi Action Fund CEO Dennis Porter recently stated that Utah is well-positioned to become the first state to formally adopt Bitcoin reserves, citing favorable political momentum and a shorter legislative session. Federal Push for a Bitcoin Reserve Continues At the national level, U.S. Senator Cynthia Lummis remains a strong advocate for Bitcoin reserves . She has been actively pushing for legislation that would allow Bitcoin to become a formal reserve asset at the federal level, but progress has been slow. Meanwhile, the newly-elected US president Donald Trump has also displayed a crypto-friendly stance, further fueling hopes for a strategic Bitcoin reserve in the US. The post Montana Moves Closer to Bitcoin Reserves as House Panel Passes Crypto Bill appeared first on TheCoinrise.com .

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