Documents reveal that the Montana House of Representatives is preparing to vote on a bill using Bitcoin (BTC), as a form of reserve currency.
LegiScan reports that Montana House Bill 429. This bill would permit the state to make investments in digital and precious metal assets. It has already passed the Committee and will soon be on the House Floor.
According to the bill, it will create a “state special revenue account” for investments in precious metals as well as digital assets. Digital assets are defined by “virtual currency, cryptocurrency, native electronic assets including stablecoins, non-fungibles tokens, other digital only assets which confer economic rights, exclusive or access powers, etc.”
In the bill, the state also limits its investment to precious metals and crypto assets that have a combined market capitalization of more than $750 billion over the last calendar year. Stablecoins are not included. Bitcoin currently is the only crypto asset other than stablecoins that fits the criteria.
The state treasurer must also “transfer up to 50 million dollars from the general account to [the investment] account” before July 15, 2025.
Chris Rose, a West Virginia senator, introduced earlier this month a bill allowing the state to allocate up to 10 percent of its public funds to the same assets. Similar proposals are being considered by legislators in Texas, Utah and Arizona.
At the time of this writing, flagship digital assets are trading at $96,264. This represents a decrease of 1.96% over the past 24 hours.
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The content of this post Montana Bitcoin Reserve Bill (BTC), which has passed out of committee and is headed to the State House floor vote, may change as new information becomes available.
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