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Montana lawmakers rejected a proposal to create a strategic Bitcoin reserve, warning that it would expose taxpayer money to excessive speculation.
The bill was voted down 41-59 with opposition even from many Republicans.
“It’s still taxpayer money, and we’re responsible for it, and we need to protect it,” Montana Representative Steven Kelly said during the state’s Feb. 22 House Floor session.
Montana Joins Three Other States In Rejecting A Strategic Bitcoin Reserve
Montana joins North Dakota, Pennsylvania and Wyoming among states that have knocked back proposals for a strategic Bitcoin Reserve.
🚨 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 – 59. It was largely partisan, but many Republicans voted against the bill.
ANALYSIS:
HB 429 failed in the House, largely due to… pic.twitter.com/AJK8sPrf1N
— Bitcoin Laws (@Bitcoin_Laws) February 22, 2025
Saylor Hints At More Bitcoin Buying
Meanwhile, Strategy co-founder Michael Saylor appears to be gearing up for more Bitcoin purchases.
In a Feb. 23 post on X, Saylor shared a snapshot of the SaylorTracker chart, a move that has often preceded Strategy, previously known as MicroStrategy, disclosing new BTC buys.
Data from SaylorTracker shows that the company’s Bitcoin holdings currently stand at 478,740 BTC worth almost $46 billion.
The firm, the largest corporate Bitcoin holder, last acquired 7,633 BTC on Feb. 10 for $742 million.
Saylor’s post comes after he said in Dec. 21, 2024, that he would like to build more “intelligent” Bitcoin leverage for Strategy in the first quarter of 2025.
As Montana Rejects A Strategic Bitcoin Reserve, Smaller Investors Pile Into BTC Bull Token
While Montana lawmakers rejected state funds being invested in BTC, smaller investors are following Strategy’s lead by by increasing their Bitcoin exposure via the presale for BTC Bull Token (BTCBULL).
The project aims to support the leading crypto on its journey to $1 million and beyond by rewarding BTCBULL holders with BTC airdrops when Bitcoin reaches certain price milestones for the first time.
It’s raised more than $2.7 million in less than two weeks.
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