Montana House rejects Bitcoin reserve bill

ChainCatcher news, the Montana House of Representatives voted against a proposed bill on February 22 that aimed to designate Bitcoin as a state reserve asset.

The bill proposed the establishment of a special revenue account to invest in precious metals, stablecoins, and digital assets with a market capitalization exceeding $750 billion, of which only Bitcoin currently meets this standard. The bill faced opposition from several Republican lawmakers, who argued that it would allow the state investment board to engage in excessive speculation with taxpayer funds, posing too high a risk. Supporters contended that if the bill were not passed, the state government would miss the opportunity to enhance its returns on investment. Currently, the bill has been effectively shelved, and any future reintroduction would require resubmission for legislative review.