Montana lawmakers shot down a bill that would have enabled the state government to invest in Bitcoin ( BTC ) as a reserve asset. Forty Republicans and one Democrat in Montana’s House of Representatives voted for the bill, but 41 Democrats and 18 Republicans rejected it. The bill, which passed a committee vote last week, would have created “a state special revenue account for investment in precious metals and digital assets,” with digital assets defined as “virtual currencies, cryptocurrencies, native electronic assets, including stablecoins and non-fungible tokens, and other digital-only assets that confer economic, proprietary, or access rights or powers.” The bill would have also limited the state to investing in crypto assets with a market cap of more than $750 billion averaged over the previous calendar – a criterion that only Bitcoin meets. Montana isn’t the only state to mull crypto reserve legislation this year: Earlier this month, West Virginia Senator Chris Rose introduced a bill that would allow the state to invest up to 10% of public funds into the same types of assets. Legislators in Texas, Utah and Arizona are also considering similar proposals. Bitcoin is trading at $92,029 at time of writing. The top-ranked crypto asset by market cap is down nearly 4% in the past 24 hours. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Montana Lawmakers Vote Against Bill That Would’ve Made Bitcoin a State Reserve Asset appeared first on The Daily Hodl .
