Montana’s House Business and Labor Committee has approved a bill that could enable the state to hold Bitcoin and other cryptocurrencies as reserve assets.
House Bill No. 429 passed on February 19 with a 12-8 vote, gaining full support from Republican members, while all Democrats opposed the measure.
The bill marks Montana’s entry into the growing list of U.S. states exploring cryptocurrency reserves.
Montana Bill Proposes Revenue Account for High-Cap Digital Assets
If enacted, it would establish a special revenue account for investing in precious metals, stablecoins, and digital assets with an average market capitalization exceeding $750 billion over the past year.
Currently, Bitcoin (BTC), priced at around $97,112, is the only cryptocurrency meeting that threshold.
House Bill No. 429 now advances to Montana’s House floor. Only Utah, Arizona, and Oklahoma have reached this legislative stage with similar Bitcoin reserve proposals.
Notably, the bill underwent an amendment removing the requirement for funds to be held by a qualified custodian or via an exchange-traded fund (ETF).
If approved, the legislation would take effect on July 1, allowing Montana’s state treasurer to allocate up to $50 million into the newly created account by July 15.
Investments could include precious metals, select digital assets, and stablecoins aimed at diversifying the state’s reserves.
Several other states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have introduced similar measures.
Last week, West Virginia State Senator Chris Rose introduced the Inflation Protection Act of 2025, a bill that would permit the state treasury to allocate a portion of its funds to digital assets and precious metals.
On January 23, former U.S. President Donald Trump commissioned a working group to explore the feasibility of a federal digital asset reserve, prompting a wave of similar initiatives at the state level.
However, Utah has made the most progress, becoming the only state to pass a Bitcoin reserve bill through its House.
Dennis Porter, CEO of the Satoshi Action Fund, recently suggested Utah could become the first state to formally adopt Bitcoin reserves, citing its expedited legislative calendar and strong political backing.
On a broader scale, U.S. Senator Cynthia Lummis continues her efforts to pass a Bitcoin reserve bill at the federal level.
Saylor’s Strategy to Raise $2 Billion for Bitcoin Purchases
In another positive development, Strategy, the business intelligence and Bitcoin acquisition firm formerly known as MicroStrategy, has announced plans to raise $2 billion through 0% senior convertible notes to further expand its Bitcoin holdings.
The company stated that net proceeds from the offering will primarily fund new Bitcoin acquisitions, with a portion allocated for general working capital.
As reported, a dozen U.S. states have invested in Strategy, the company formerly known as MicroStrategy, with state pension funds and treasuries collectively holding $330 million worth of its stock as of the end of 2024.
California’s State Teachers Retirement System fund holds the largest stake, with 285,785 shares valued at approximately $83 million, based on the Feb. 14 filing with the U.S. Securities and Exchange Commission (SEC).
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