NewsletterBitcoin Reserve: Montana Lawmakers Introduce Bill To Invest In BTC
Highlights
- US State of Montana introduces a bill to invest about $50 million Bitcoin, digital assets, etc.
- The bill is introduced by Rep. Gayle Lammers and co-sponsored by Rep. Curtis Schomer.
- The Czech Republic approved a bill to consider the diversification of reserve.
Amid increasing anticipations of the United States’ potential implementation of its Bitcoin strategy, new states are introducing BTC proposals. The US State of Montana has become the latest to join the US rally to adopt a strategic Bitcoin reserve.
Following the Czech Republic’s approval of a proposal that intends to analyze the possibilities of reserve diversification, a new US state has introduced a Bitcoin bill. This adds another layer of intrigue, making it increasingly uncertain which country will be the first to adopt a Bitcoin strategy.
US State of Montana Launches Bitcoin Reserve Bill
According to a recent X post by Dennis Porter, the CEO and co-founder of Satoshi Action Fund, the US state of Montana has introduced a strategic Bitcoin reserve bill. The bill intends to allow investments of up to $50 million in Bitcoin, other digital assets, stablecoins, or precious metals.
Porter revealed that Montana’s Bitcoin bill was introduced by Rep. Gayle Lammers and co-sponsored by Rep. Curtis Schomer. Including Montana, about 15 US states have submitted their BTC proposals. Thus, the community received the update with excitement, and anticipation is building for a potential nationwide rollout of the Bitcoin initiative in the US.
Arizona and Utah Pass Landmark Bitcoin Legislation
Notably, 15 US states, including Florida, New Hampshire, Pennsylvania, Ohio, North Dakota, Oklahoma, Texas, Wyoming, Massachusetts, South Dakota, Utah, Arizona, Illinois, Kentucky, and Montana proposed to hold Bitcoin reserves. Among them, Arizona and Utah approved the Bitcoin bill, becoming the first two US states to greenlight the BTC bill.
Meanwhile, Senator Cynthia Lummis has been pushing the US to take decisive action on the Bitcoin program. While there hasn’t been a clarification on the proposal’s status, proponents await Congress’ approval.
Czech’s Reserve Diversification Signals Bitcoin Adoption
In a recent development, the Czech Republic approved a proposal that considers the potential diversification of the national reserve. The country intends to include additional asset classes, including Bitcoin, to the reserve.
Despite opposition from Finance Minister Zbynek Stanjura, the country approved the proposal, signaling a potential integration of Bitcoin into the reserve. While this decision is a significant step forward, the final outcome remains uncertain and will depend on future developments within the country.
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