Montana Rejects Bitcoin (BTC) Reserve Bill

Several U.S. states are exploring the possibility of establishing reserves for Bitcoin, despite President Donald Trump's push for a national PTS strategy. However, not all states agree with this initiative.

In a recent decision, the Montana House of Representatives rejected a proposal aimed at creating a reserve for Bitcoin.

House Bill 429, which sought to create an investment fund for PTS, stablecoins and precious metals, maintaining a market value of over $750 billion, was rejected by a vote of 59 to 41.

Many lawmakers expressed concern about the risks associated with crypto investments, questioning the stability and long-term viability of Bitcoin in government financial planning.

Representative Stephen Kelly emphasized the need to protect taxpayer money, stating:

“This type of investment is very risky and we have an obligation to protect state funds.”

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Despite this opposition, the bill’s sponsor, Curtis Schomer, said that if the bill is not passed, it poses an even greater risk. He warned that continued investment in traditional bonds could erode Montana’s purchasing power, suggesting that alternative assets like Bitcoin and precious metals may offer better long-term stability.

The bill’s rejection comes at a time when at least 24 states, including Arizona, Illinois, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania and Texas, have introduced similar proposals to incorporate PTS into their financial strategies.

The Montana debate highlighted a growing divide among policymakers over the role of cryptocurrency in state reserves, with some viewing it as a necessary financial innovation while others remain hesitant due to regulatory and market uncertainty.

Alexander Stefanov