Although the bill was rejected, similar proposals are under consideration in 24 other states.
Recently, Montana’s House of Representatives voted 41-59 against a bill that proposed establishing a Bitcoin reserve in the state. House Bill No. 429 sought to create a dedicated revenue account for investing in digital assets, such as Bitcoin, along with precious metals and stablecoins. However, many lawmakers raised concerns that the bill might permit the state to engage in speculation with taxpayer money, with some labeling the initiative as overly risky.
While certain representatives, like Bill Mercer, opposed the bill on grounds of financial responsibility, others recognized potential advantages. Representative Lee Demming contended that the state should strive to maximize returns for taxpayers, indicating that the bill could have facilitated that objective. Bill sponsor Curtis Schomer highlighted that rejecting the bill would restrict the state’s investment options and diminish purchasing power.
Despite the bill’s rejection, Montana is not the only state contemplating a Bitcoin reserve. Twenty-four states have introduced related legislation, with Utah showing the most advancement. Although the bill in Montana is currently inactive, it may be reintroduced in the future.
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