Montana’s House of Representatives voted 41-59 against a bill that would have established Bitcoin as a state reserve asset. Concerns were raised that it could lead the state’s investment board to engage in risky speculation with taxpayer funds. Many Republicans opposed House Bill No. 429, which aimed to create a revenue account for investing in precious metals, stablecoins, and digital assets, primarily focusing on Bitcoin. State Representative Steven Kelly highlighted the responsibility to protect taxpayer money while Representative Bill Mercer opposed giving the investment board discretion over cryptocurrencies. The bill's sponsor, Curtis Schomer, argued it could help maximize returns for taxpayers, countering that not passing the bill was the real risk. Despite some support for the bill, it ultimately failed to pass and will need to be reintroduced for future consideration. This comes amidst a surge of states looking to establish Bitcoin reserves, with Utah currently leading in regulatory progress.

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