Montana House of Representatives rejects Bitcoin reserve bill

Montana is the latest state in the US to see a bill being rejected that aimed to invest public funds in Bitcoin.

The House of Representatives in Montana voted 41-59 against the proposal which was known as ‘House Bill 429.’ If it had passed, the aim was to authorize up to $50 million to be invested into ‘digital assets with a market cap of over $750 billion averaged over the previous calendar year.’

This comes after it appeared to gain some momentum when first introduced, with it passing the Montana House Business and Labor Committee with a 12-8 vote before being thwarted.

The proposed plan was brought in by Republican Representative Curtis Schomer who recently posted on X to thank an account for “trusting Senator Lammers and myself to represent this amazing bill!!!”