Montana Advances Bill to Establish Reserve for Bitcoin, Precious Metals, and Stablecoins

The House Business and Labor Committee in Montana has voted to advance a bill that aims to establish a reserve for investing in Bitcoin, precious metals, and stablecoins. Introduced by Representative Curtis Schomer, House Bill 429 has cleared its first major hurdle with a 12-8 committee vote.

Bill Progress and Requirements

The bill will now move to the full Montana House for a vote. If it passes, it will proceed to the state Senate for further debate and approval. To become law, the bill would need the governor’s signature.

If passed, Montana would establish a state special revenue account dedicated to investing in digital assets, precious metals, and stablecoins as part of a broader reserve strategy. The bill authorizes the state treasurer to transfer up to $50 million from the general fund into this account by July 15, 2025. These funds would be managed by the Montana Board of Investments and allocated to assets deemed suitable under the bill’s criteria.

Investment Criteria and Eligible Assets

The bill defines digital assets as virtual currencies, cryptocurrencies, stablecoins, and other blockchain-based assets with economic or proprietary rights. However, to qualify for investment, a digital asset must have a market capitalization exceeding $750 billion, averaged over the previous calendar year—a requirement that currently only Bitcoin meets.

An amendment to the bill removed a prior requirement that the assets must be held by a qualified custodian or through an exchange-traded fund. This change broadens how the state can manage its investments, allowing for more direct holding of assets.

Other U.S. States Exploring Bitcoin Reserves

Montana joins a growing list of U.S. states exploring Bitcoin reserves, including Illinois, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, among others.

Utah remains the only state where a Bitcoin reserve bill has cleared the House. According to industry experts, Utah could become the first U.S. state to establish a Bitcoin reserve due to its short legislative calendar.

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