{"id":21437,"date":"2025-02-24T12:52:10","date_gmt":"2025-02-24T10:52:10","guid":{"rendered":"https:\/\/forklog.com\/en\/montana-house-rejects-bitcoin-reserve-bill-2\/"},"modified":"2025-02-24T12:52:10","modified_gmt":"2025-02-24T10:52:10","slug":"montana-house-rejects-bitcoin-reserve-bill-2","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/montana-house-rejects-bitcoin-reserve-bill-2\/","title":{"rendered":"Montana House Rejects Bitcoin Reserve Bill"},"content":{"rendered":"<p>The Montana House of Representatives voted 59-41 against the bill to establish a Strategic Bitcoin Reserve (SBR) during its second reading.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? MONTANA Update:<\/p>\n<p>Bitcoin Reserve bill HB 429 failed to pass a second reading in the Montana House. It is now effectively dead.<\/p>\n<p>The vote was 41 \u2014 59. It was largely partisan, but many Republicans voted against the bill.<\/p>\n<p>ANALYSIS:<\/p>\n<p>HB 429 failed in the House, largely due to\u2026 <a href=\"https:\/\/t.co\/AJK8sPrf1N\">pic.twitter.com\/AJK8sPrf1N<\/a><\/p>\n<p>\u2014 Bitcoin Laws (@Bitcoin_Laws) <a href=\"https:\/\/twitter.com\/Bitcoin_Laws\/status\/1893399549454229690?ref_src=twsrc%5Etfw\">February 22, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The initiative was rejected due to concerns over the potential for increased speculation with taxpayer funds by the state&#8217;s investment board.<\/p>\n<p>Proponents of the bill pointed to the need to maximize the structure&#8217;s income and the excessively high proportion of funds &#8220;in the bank.&#8221;<\/p>\n<p>The document proposed creating a special income account for investments in precious metals, stablecoins, and digital assets with a market value exceeding $750 billion in the last calendar year. Only digital gold meets this criterion.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">February 24, 2025 | 19:14<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Two more states have declined to support local Bitcoin reserve bills. In North Dakota, the proposal <a href=\"https:\/\/ndlegis.gov\/assembly\/69-2025\/regular\/bill-overview\/bo1184.html\" title=\"\">HB 1184<\/a> to invest government funds in the first cryptocurrency was rejected by a margin of 57 to 32 votes.<\/p>\n<p>In Wyoming, seven out of nine representatives opposed the bill <a href=\"https:\/\/www.wyoleg.gov\/Legislation\/2025\/HB0201\" title=\"\">HB 0201<\/a>, which would allow the state treasury to allocate government funds for purchasing digital gold.<\/p>\n<\/div>\n<p>Currently, representatives from 24 U.S. states have announced plans to launch an SBR in some form. In 20 of these states, the bills remain on the agenda.  <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin Laws Map Update:<\/p>\n<p>New map filters (again), this time with counters:<\/p>\n<p>\u2014 Total Measures<br \/>\u2014 Total SBRs Introduced<br \/>\u2014 Lives SBRs<\/p>\n<p>Indicating both the # measures, and also # states (which differs when states have multiple bills). <a href=\"https:\/\/t.co\/oXRds4NvdG\">pic.twitter.com\/oXRds4NvdG<\/a><\/p>\n<p>\u2014 Bitcoin Laws (@Bitcoin_Laws) <a href=\"https:\/\/twitter.com\/Bitcoin_Laws\/status\/1893032380945875154?ref_src=twsrc%5Etfw\">February 21, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Utah has made the most progress. The Senate Revenue and Taxation Committee<a href=\"https:\/\/le.utah.gov\/mtgvotes.jsp?voteid=36093\"> approved<\/a> the relevant document on February 20. The bill will now be considered in the second and third readings before a final vote in the Senate.<\/p>\n<p>In February, Satoshi Action Fund CEO Dennis Porter <a href=\"https:\/\/u1f987.com\/en\/news\/utah-poised-to-lead-in-establishing-first-us-bitcoin-reserve-law\">called<\/a> Utah the leading candidate for launching an SBR. <\/p>\n<p>VanEck estimated that the adoption of such bills would create additional demand for Bitcoin amounting to <a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-predicts-us-states-to-acquire-23-5-billion-in-bitcoin\">242,787 BTC ($23.5 billion)<\/a>. The estimate is conservative, as it does not include potential investments from pension funds.<\/p>\n<p>In January, U.S. President Donald Trump announced the <a href=\"https:\/\/u1f987.com\/en\/news\/white-house-working-group-to-assess-a-national-crypto-reserve\">formation of a task force<\/a> on digital assets, led by Special Advisor on AI and Cryptocurrencies <a href=\"https:\/\/u1f987.com\/en\/news\/trump-nominates-david-sacks-as-crypto-czar\">David Sacks<\/a>.<\/p>\n<p>One of the structure&#8217;s tasks is to assess the prospects of implementing an SBR. In a recent interview, the official <a href=\"https:\/\/u1f987.com\/en\/news\/david-sacks-prioritizes-bitcoin-reserve-assessment\">confirmed<\/a> that they are &#8220;studying&#8221; the issue.<\/p>\n<p>The largest publicly traded miner, MARA Holdings, has <a href=\"https:\/\/u1f987.com\/en\/news\/mara-advocates-for-bitcoin-reserve-across-the-united-states\">joined<\/a> efforts to lobby for the creation of Bitcoin reserves at the federal level and in all 50 states.<\/p>\n<p>In December, VanEck calculated that the launch of an SBR could help the U.S. reduce its national debt by 35% by 2050. They believe that by 2049, digital gold will <a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-assesses-bitcoin-reserves-impact-on-us-national-debt\">increase in value to $42.3 million<\/a>, showing a <span data-descr=\"compound annual growth rate\" class=\"old_tooltip\">CAGR<\/span> of 25%.<\/p>\n<p>Strategy founder Michael Saylor <a href=\"https:\/\/u1f987.com\/en\/news\/michael-saylor-proposes-bitcoin-strategy-for-the-us\">estimated<\/a> the effect of an SBR for the U.S. at $81 trillion.<\/p>\n<p>According to Sygnum&#8217;s calculations, purchasing the first cryptocurrency for a national Bitcoin reserve worth $1 billion would lead to an increase in the asset&#8217;s capitalization <a href=\"https:\/\/u1f987.com\/en\/news\/sygnum-assesses-impact-of-us-bitcoin-reserve-purchases\">by $20 billion<\/a>.<\/p>\n<p>Previously, analyst Thomas Farrer predicted that the price of digital gold would rise <a href=\"https:\/\/u1f987.com\/en\/news\/trade-wars-enhance-bitcoins-appeal-say-experts\">by $50,000 per minute<\/a> once U.S. authorities confirm the creation of an SBR.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Montana House of Representatives voted 59-41 against the bill to establish a Strategic Bitcoin Reserve (SBR) during its second reading. ? MONTANA Update: Bitcoin Reserve bill HB 429 failed to pass a second reading in the Montana House. It is now effectively dead. The vote was 41 \u2014 59. It was largely partisan, but [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1538,1641,36,26],"class_list":["post-21437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-purchase","tag-bitcoin-reserves","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/21437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=21437"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/21437\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/21436"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=21437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=21437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=21437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}