Montana is one step closer to adding Bitcoin to its state reserves. A bill allowing the state to invest in precious metals and digital assets recently passed a committee vote and is headed to the state House for a full vote.
What the Bill Does
House Bill 429 would create a special account for investments in precious metals and digital assets. The bill specifically defines digital assets to include cryptocurrencies, stablecoins, and NFTs. However, there are some limitations: the state can only invest in precious metals, cryptocurrencies with a market cap over $750 billion (averaged over the past year), and stablecoins. Right now, Bitcoin is the only cryptocurrency that fits this description. The bill also allocates up to $50 million from the state’s general fund to this new investment account by July 15, 2025.
Following the Trend
Montana isn’t alone in exploring this idea. Similar bills are being considered in other states, including West Virginia, Texas, Utah, and Arizona. For example, a West Virginia senator recently proposed a bill allowing the state to invest up to 10% of its public funds in similar assets.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading around $96,264, down slightly from the previous day.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before making any investment decisions.
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