Tag: Representatives

• The Montana Representatives Chamber rejected the Bitcoin Reserve Bill.
• The Bitcoin Reserve Law was aimed at $ 50 million in cryptocurrencies.
• The Chamber claimed that there is a risk for taxpayers funds.

On February 22, 2025, the Montana Representatives Chamber rejected decisively The bill of the House of Representatives No. 429 a proposal that aimed to establish Bitcoin (BTC) as a state reserve asset.

The vote of 41 to 59 marked a significant setback for the defenders of the integration of the cryptocurrency in the financial strategy of Montana, highlighting a deep division on the role of digital assets in public finances.

Presented by representative Curtis Schomer at the beginning of February, the bill sought to diversify the state investment portfolio through the creation of a special income account.

This account would have allowed the State Treasurer to assign up to 50 million dollars for investments in stable currencies, precious metals and cryptocurrencies with a market capitalization of more than 750 billion dollars during the last year, a threshold that currently only reaches Bitcoin.

Supporters argued that such a measure could generate greater returns than investments in traditional bonds, positioning Montana as an actor with a vision of the future in the changing financial panorama.

Representatives of the House of Representatives of Montana are cautious about the risks involved

Despite having been approved by the Business and Work Committee of the House of Representatives on February 19 with a vote of 12 to 8, backed by the Republicans and rejected by the Democrats, the bill faced strong resistance during their Second reading in the camera.

Fiscal conservatives, including many Republicans, expressed concern about Bitcoin’s speculative nature, emphasizing the duty of the State to protect taxpayers’ money.

Representative Steven Kelly captured this feeling during the plenary session of the Chamber, declaring:

“It is still money from taxpayers and we are responsible for him. We need to protect it. These types of investments are too risky. ”

Representative Jane Gillette echoed these doubts, noting that the bill lacked clear guidelines on how the funds would be managed, while representative Bill Mercer warned that the history of dramatic bitcoin pricing oscillations made it an election reckless for public funds.

On the other hand, defenders such as the representative Lee Demming argued that the adoption of digital assets could safeguard Montana’s reserves against inflation and reinforce long -term financial growth, a perspective shared by Bitcoin defenders throughout the country.

The rejection of the HB 429 effectively kills the proposed for now, requiring that any future effort begins again in the Montana Legislature.

The US states press for Bitcoin reservations

Montana’s decision contrasts with a growing trend between US states that explore Bitcoin as a reserve asset. Approximately 24 states, including UTAH, Arizona, Oklahoma, Texas and Ohio, have introduced similar legislation, being the HB230 of UTAH that has achieved the greatest progress by allowing up to 5% of public funds to be invested in digital assets.

At the national and world level, the impulse to Bitcoin reserves is gaining ground, and countries such as Switzerland, Brazil, Japan and Russia also weigh the potential of cryptocurrency as a strategic asset.

Dennis Porter, executive director of Satoshi Action Fund, who collaborated with Montana legislators such as Schomer and Senator Daniel Zolnikov, expressed his disappointment with the Montana measure, but remained optimistic about the broader movement. He pointed out that Bitcoin’s decentralized structure and its limited offer make it an attractive coverage against economic uncertainty.