Montana lawmakers rejected a proposal that would have allowed the state to invest in Bitcoin as a reserve asset. The bill, which aimed to create a special revenue account for investments in digital assets and precious metals, failed by a narrow margin.
Forty Republicans and one Democrat supported the legislation, but 41 Democrats and 18 Republicans voted against it. The bill had passed a committee vote the previous week but did not gain enough support in the House of Representatives.
The proposal defined digital assets broadly, including virtual currencies, cryptocurrencies, stablecoins, non-fungible tokens, and other digital-only assets that provide economic or proprietary rights. It also set a requirement that any crypto asset considered for investment must have a market capitalization exceeding $750 billion on average over the previous calendar year. Only Bitcoin meets that threshold.
Montana is not the only state evaluating crypto reserve strategies. In West Virginia, Senator Chris Rose introduced a similar bill that would permit up to 10% of public funds to be allocated to digital assets. Lawmakers in Texas, Utah, and Arizona are also exploring related measures.