Montana's strategic Bitcoin reserve bill has passed committee and is headed for a House vote.
Bill Advancement
House Bill 429, introduced by Representative Curtis Schomer on February 7, 2025, has passed the committee with a 12-8 vote and is set for a floor vote in the State's House of Representatives. It faced opposition from Democrats but garnered enough Republican support. If approved, it will move to the state Senate and require the governor’s signature to become law.
Bill Framework
The bill creates a framework for a special revenue account to invest in digital assets and precious metals as part of a reserve strategy. Digital assets include virtual currencies, cryptocurrencies, and stablecoins. The investment threshold is a $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. The state treasurer may transfer up to $50 million from the general fund by July 15, 2025, with the Montana Board of Investments overseeing the funds.
Trends in Other States
Besides Montana, several other states, including Illinois, Kentucky, Maryland, and New Mexico, have introduced similar Bitcoin reserve bills. However, only three states — Arizona, Utah, and Oklahoma — have advanced their bills beyond the introduction phase.
The advancement of the bill in Montana highlights the growing interest in cryptocurrency reserves across U.S. states.
