News View Non-AMP

Crypto News: Montana’s Bitcoin Reserve Bill Shelved Citing Risk to Taxpayer Money

Published by
Anjali Belgaumkar

On February 22, the Montana House of Representatives voted 41-59 against a bill that would have made Bitcoin a state reserve asset. The proposed House Bill No. 429 aimed to create a special revenue account for investing in Bitcoin, stablecoins, and precious metals that meet a market cap threshold of $750 billion—criteria that only Bitcoin currently fulfills. However, many Republican lawmakers expressed concerns about the risks of speculating taxpayer money and voted against the bill.

State Representative Steven Kelly argued that these types of investments were too risky, stressing the need to protect public funds. However, as reported by Cointelegraph, Representative Lee Demming said,

“If we’re going to keep the taxpayer’s money, I think we owe it to the taxpayers to get as high a return on that money that’s sitting in there, either that or you give it right back to them, so I’m going to vote on this bill for that reason.”

Montana Representative Steve Fitzpatrick added,

“We can make a return to the taxpayer and ultimately that will allow us to give more money back, to cut taxes, and provide that fiscal relief that people are looking for.”

Despite support from some lawmakers who believed in the potential benefits of investing in digital assets, the bill was shelved.

Montana’s decision reflects broader resistance to embracing cryptocurrencies, with 24 other states having considered similar legislation. However, Utah has made more progress on its own Bitcoin reserve bill. The vote highlights a clash between traditional governance and the growing influence of the crypto movement.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

$10,000 XRP Prediction: Breaking Down the Math, Market Facts, and Possibilities

As the financial world faces big shifts, XRP is a name that keeps coming up.…

June 10, 2025

Pi Network News: June 28 Dubbed ‘Day of Great Expectation’ by Pioneers

The Pi Network community is rallying ahead of June 28, 2025, a date now labeled…

June 10, 2025

XRP Price Prediction For June 10

The price of XRP is rising today, up by more than 2%, currently trading around…

June 10, 2025

Why is The Crypto Market Going Up Today?

The cryptocurrency market is back in action today, with a sharp rally across major coins…

June 10, 2025

Top Reasons Why Ethereum (ETH) Price Will Reach $2,800 This Week

As Bitcoin (BTC) price rallied above $110k on Monday, June 9, Ethereum (ETH) price jumped…

June 10, 2025

Top Reasons Why Bitcoin (BTC) Price Rebounded Above $110k Today

After teasing further corrections last week following the relationship fallout between Elon Musk and President…

June 10, 2025