Montana Joins States Saying ‘No’ to Bitcoin in State Reserves

Well, people of the internet, Montana took one look at Bitcoin, gave it the ol’ cowboy side-eye, and then was like “Nah, we’re good.” It's true, our state recently shot down a bill that would have allowed Montana to store some Bitcoin (and other shiny digital assets) in its reserves.

Now, I can hear what some of you say: “Wait, Montana has reserves? ” Yep, apparently the state doesn’t run only on cows, wheat, and good looks. We keep a horde of funds for, you know, "state things?"

Bitcoin in the State Piggy Bank? Not Today.

House Bill 429, sponsored by Billings Representative Curtis Schomer, was focused on diversifying Montana’s reserves with Bitcoin, stablecoins, and precious metals. The idea? Earn some additional income instead of twiddling on the usual dull old bonds. Sounds kinda smart, right?

Not everyone agreed on that point. That bill was voted down, 41-59 against it. Some lawmakers feared that Bitcoin is simply too volatile. Rep. Steven Kelly referred to it flat out as “speculation.” And honestly? He’s not wrong. Bitcoin can be booming one day and bust the next. Which is all well and good if it’s your own money, but possibly not so great when it’s taxpayer dough.

Montana Enters the 'No Thanks' Club

That decision brings Montana into a growing list of states that have given Bitcoin reserves a cold shoulder. Including North Dakota, Wyoming, and Pennsylvania.

Montana is sticking with its typical (and somewhat less garish) financial playbook. Will that be the smart play or will we be kicking ourselves down the road while other states ride off into a "Bitcoin sunset?” Who knows.