Montana is now the fourth U.S. state to advance its Bitcoin Reserve bill beyond the introduction phase.
House Bill 429, sponsored by Representative Curtis Schomer and introduced on February 7, 2025, is currently up for a floor vote in the State’s House of Representatives after passing the Business and Labor Committee with a 12-8 vote. The bill received unanimous opposition from Democrats but secured enough Republican support. If approved by the full House, it will move to the state Senate for further discussion and ultimately require the governor’s signature to become law.
BREAKING: ‘Strategic Bitcoin Reserve’ legislation in Montana passes out of committee and moves onto a House floor vote – Thank you to the leadership of Rep. Schomer who sponsored the bill. pic.twitter.com/2qwiFOliNR
— Satoshi Action Fund (@SatoshiActFund) February 19, 2025
The bill establishes a framework for creating a special revenue account to invest in digital assets and precious metals as part of a reserve strategy. Digital assets are virtual currencies, cryptocurrencies, stablecoins, and related blockchain-based assets, with an investment threshold of $750 billion market capitalization, currently only met by Bitcoin. An amendment removed the requirement for assets to be held by a qualified custodian or through an ETF, broadening investment options. The state treasurer can transfer up to $50 million from the general fund into the account by July 15, 2025, and the Montana Board of Investments will oversee these funds.
Beyond Montana, several other states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have introduced similar Bitcoin reserve bills. However, only three states, Arizona, Utah, and Oklahoma have advanced their bills beyond the introduction phase to receive a vote in the legislative chambers.
Notably, Dennis Porter, CEO of the Satoshi Act Fund, believes Utah is well-positioned to be the first state to create a strategic Bitcoin reserve. He highlights Utah’s 45-day legislative process and its effective digital asset task force, which has successfully passed all crypto-related laws. Porter remains optimistic about federal legislation but thinks states could benefit the most from Bitcoin reserves.
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