Recent documents indicate that a proposed bill in Montana aimed at utilizing Bitcoin (BTC) as a reserve asset is advancing towards a vote in the state’s House of Representatives.
As reported by the legislative tracking service LegiScan, Montana House Bill 429 – which seeks to permit state investments in precious metals and digital assets – has successfully passed a Committee vote and is now proceeding to the House floor.
The bill proposes the establishment of “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.”
Additionally, the bill stipulates that the state can only invest in precious metals, crypto assets with a minimum market cap of $750 billion averaged over the preceding calendar year, and stablecoins. Presently, Bitcoin is the only non-stablecoin crypto asset that fits this criterion.
Moreover, the state treasurer is mandated to “transfer up to $50 million from the general fund to the [investment] account” by July 15th, 2025.
Earlier this month, West Virginia Senator Chris Rose introduced legislation that would permit the state to invest up to 10% of public funds into similar asset classes. Legislators in Texas, Utah, and Arizona are also evaluating comparable proposals.
As of the latest updates, the flagship digital asset is trading at $96,264, reflecting a 1.96% decrease over the last 24 hours.
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Disclaimer: The opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own due diligence before undertaking any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transfers and trades are made at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor is it an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.
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