The U.S. state joins Utah, Arizona, and Oklahoma in the legislative process toward adopting Bitcoin as a state treasury asset.
The Montana Business and Labor Committee has approved a bill to invest a portion of public funds in Bitcoin. The proposal, known as House Bill No. 429, passed the committee with a 12-8 vote, with all Republicans in favor and all Democrats opposed.
Now heading to the State House, the initiative proposes creating a special investment fund for precious metals, stablecoins, and digital assets with an average market capitalization exceeding $750 billion. Currently, Bitcoin is the only cryptocurrency eligible under this criterion.
If fully approved, the law would take effect on July 1, granting the state treasurer the authority to allocate up to $50 million into the special fund by July 15. A recent amendment removed the requirement to hold funds with a qualified custodian or through a spot ETF.
Montana thus becomes the fourth U.S. state to advance a Bitcoin reserve bill to the House, following Utah, Arizona, and Oklahoma.
