Montana Becomes Fourth US State to Push Bitcoin Reserve Bill to House

Highlights:

• Montana advances the Bitcoin reserve bill, joining Utah, Arizona, and Oklahoma in similar efforts.
• Bill allows a $50 million investment in metals, stablecoins, and digital assets by July.
• Trump and Lummis push federal Bitcoin reserve plans; states race to follow suit.

Montana’s House Business and Labor Committee passed House Bill 429 on Feb. 19, allowing the state to hold Bitcoin and other cryptocurrencies as reserves. The vote was 12-8, with Republicans in favor and Democrats opposed. House Bill 429 moves to Montana’s House floor. So far, only Utah, Arizona, and Oklahoma have reached this stage with similar Bitcoin reserve plans.

If passed, the bill would create a special account to invest in precious metals, stablecoins, and digital assets. These assets must have an average market cap of over $750 billion in the past year. At present, Bitcoin, priced near $97,045, is the only cryptocurrency that qualifies. The bill was amended to remove the rule requiring funds to be held by a custodian or through an ETF. If passed, it will start on July 1, allowing Montana’s treasurer to allocate up to $50 million into a new account by July 15.

US States Race to Establish BTC Reserves as Utah Leads the Way

Several states have proposed similar measures, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas. West Virginia State Senator Chris Rose introduced the Inflation Protection Act of 2025 last week. This bill would allow the state treasury to allocate a portion of its funds to digital assets and precious metals.

U.S. President Donald Trump formed a working group to assess the possibility of creating a federal digital asset reserve. This move sparked a series of similar efforts across various states. Utah has taken the lead in regulatory progress, standing as the only state to pass a Bitcoin reserve bill through its House.

Dennis Porter, CEO of the Satoshi Action Fund, recently predicted Utah could be the first U.S. state to adopt a Bitcoin reserve, highlighting its shorter legislative calendar and strong political support.

BREAKING: ‘Strategic Bitcoin Reserve’ legislation in Montana passes out of committee and moves onto a House floor vote – Thank you to the leadership of Rep. Schomer who sponsored the bill. pic.twitter.com/2qwiFOliNR

— Satoshi Action Fund (@SatoshiActFund) February 19, 2025

Lummis and Trump Lead Federal Bitcoin Reserve Efforts

Meanwhile, in a January 21 interview, Senator Cynthia Lummis said progress is underway on her federal Bitcoin reserve bill. She mentioned it would require at least 60 votes to gain bipartisan support in the Senate. “We’re having good success. We’re not there yet, but we’re having good success,” she added.

The Lummis bill aims for the U.S. to acquire 1 million Bitcoins, representing 5% of the total supply over five years. The country could use the 198,100 Bitcoin seized from assets and obtain the remaining 801,900 through Emergency Support Functions, selling part of its $455 billion gold reserves for Bitcoin, or a mix of both.

Moreover, on Jan. 23, President Donald Trump issued an executive order to assess the possibility of creating a national digital asset stockpile. During his election campaign last year, he promised to establish a “strategic Bitcoin reserve” similar to the Strategic Petroleum Reserve. Experts say a strategic Bitcoin reserve could help hedge against inflation and currency devaluation.