Montana Passes Bitcoin Reserve Bill
Montana Moves Forward with Bitcoin Reserve
The Montana House of Representatives Business and Labor Committee approved House Bill 429, paving the way for the state to invest public funds in precious metals and digital assets, including Bitcoin (BTC). The bill now heads to the full House for a vote, then the Senate, and finally the governor's desk. If signed into law, it will take effect on July 1, 2025.
House Bill 429, sponsored by Representative Curtis Schomer, establishes a special revenue account for these investments. The bill defines "digital assets" to include cryptocurrencies, stablecoins, and NFTs. Importantly, it specifies that only digital assets with a market cap exceeding $750 billion (averaged over the previous year) are eligible. Currently, only Bitcoin meets this criterion.
Strategic Asset Allocation
The bill aims to diversify Montana's investment strategy, using a combination of assets as an inflation hedge. Besides Bitcoin and other qualifying digital assets, the bill also allows investments in precious metals like gold, silver, and platinum, and exchange-traded products linked to commodities or stocks.
Growing Momentum for State-Level Bitcoin Reserves
Montana is among numerous US states exploring strategic Bitcoin reserves. According to Bitcoin Laws, at least 20 states had introduced similar legislation by February. Other states making progress include Utah, where HB 230 is advancing, and Arizona, with two bills (SB 1373 and SB 1025) progressing through the legislative process.
This trend reflects a growing acceptance of Bitcoin’s role in the global economy, a sentiment echoed by prominent figures like Changpeng Zhao (CZ), who highlighted the inevitability of Bitcoin's adoption.
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Disclaimer: This news article aims to provide accurate information. Readers should conduct independent research and seek professional advice before making investment decisions.