US State Montana House Representatives Sway Against the Bitcoin Reserve Bill
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The US State of Montana saw its House of Representatives reject the idea of a Bitcoin Reserve bill. Several other state governments have ventured into crypto with passing bills on digital assets’ investments. The crypto market has furthered downwards over the weekend. Bitcoin has once again docked its ship at $95,000 after progressing closer to $100K just a few days ago. These bearish winds have also swayed the AltSeason’s sails causing minor price drops. On the other hand, the past day has seen a surge in activity following the weekend slump. Leading cryptocurrency nation, the USA received news of one of its states rejecting a Bitcoin Reserve Bill amidst optimistic regulations. The State of Montanna saw its House Representatives vote against making Bitcoin a state reserve asset. The bill, similar to other states, aimed to include Bitcoin, digital assets, and stablecoins in the states’ reserve assets. One Representative stated that taxpayers’ money needs to be protected and that such investments “are way too risky.” The community has not reacted too negatively; one member even discussed how they hoped that the state of Montana might reform its attitude in the future. Meanwhile, the bill’s sponsor Curtis Schomer stated “The only thing that is risky is not passing this bill.” He discussed how if the State continued to invest in bonds, it might lose purchasing power for these assets. How Is the US States’ Bitcoin Reserve Bill Landscape Shaping Up? In January 2025, the US states announced that they plan to introduce up to 20 Strategic Bitcoin reserves in the nation. Multiple states including Ohio, Texas, and Illinois have passed bills regarding the same. This surge in states’ interest in Bitcoin and digital assets investments further aided in advancing the US’s pro-crypto stance. Although these shifts have not affected the price explicitly…
Filed under: News - @ February 24, 2025 9:29 am