- Montana’s Bitcoin reserve bill failed in a 41-59 House vote, ending its prospects.
- Twenty U.S. states continue advancing similar Bitcoin reserve legislation despite Montana’s rejection.
As the race to establish a Bitcoin [BTC ($92,572.18)] Reserve gains momentum across various U.S. states, inspired by Donald Trump’s vision for a national ‘Strategic Bitcoin Reserve,’ Montana has hit an unexpected roadblock.
The state’s ambitious House Bill No. 429, which aimed to create a special revenue account for investing in precious metals, stablecoins, and high-market-cap digital assets, failed to clear the House of Representatives.
Despite BTC being the sole asset meeting the bill’s strict $750 billion market cap requirement, the proposal was struck down in a 41-59 vote, with several Republicans opposing the measure during the latest floor session.
Why did the Montana lawmakers reject the Bitcoin Reserve bill?
State Representative Steven Kelly, speaking at Montana’s House Floor Session on the 22nd of February, said,
“It’s still taxpayer money, and we’re responsible for it, and we need to protect it.”
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