Montana is making waves in the cryptocurrency space as its House Business and Labor Committee has approved a bill that could pave the way for Bitcoin and other digital assets to become part of the state’s official reserves. The bill, House Bill No. 429, passed with a 12-8 vote on Feb. 19, receiving full support from Republican lawmakers while facing unanimous opposition from Democrats.

If enacted, the legislation would create a special revenue account allowing Montana to invest in precious metals, stablecoins, and digital assets with an averaged market cap of over $750 billion in the past year. At present, Bitcoin is the only cryptocurrency that meets this threshold. This move positions Montana alongside Utah, Arizona, and Oklahoma as one of the few states pushing Bitcoin reserve-related legislation to the House level.

One key amendment to the bill removed the requirement that funds must be held by a qualified custodian or through an exchange-traded fund, potentially offering more flexibility in how assets are managed. If passed, the bill would take effect on July 1, authorizing the state treasurer to allocate up to $50 million into the reserve account by July 15.

Montana is not alone in its pursuit of crypto reserves. Other states, including Illinois, Kentucky, Maryland, New Hampshire, and Texas, have introduced similar bills. However, Utah remains the frontrunner, being the only state to successfully pass a Bitcoin reserve bill through its House.

Meanwhile, US Senator Cynthia Lummis continues efforts to push Bitcoin reserve legislation at the federal level, signaling growing momentum for state-backed cryptocurrency adoption.