Over the weekend, the crypto market sank further downhill. After sailing closer to $100,000 just a few days ago, Bitcoin has once more anchored itself at $95,000. These bearish winds have also rocked the sails of the AltSeason, resulting in little price changes. Conversely, the past day has seen a spike in activity following the weekend slump.
The leading Bitcoin country, the USA, learned of one of its states rejecting a Bitcoin Reserve Bill in line with favorable policies. The House Representatives of Montana decided against allowing Bitcoin to be a state reserve asset. The bill, like those in other states, wanted stablecoins, digital assets, and Bitcoin to be some of the state’s reserve assets.
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One lawmaker said that these kinds of investments “are far too risky,” and we need to protect taxpayer money. The community has not responded too negatively; one member even spoke about how they hoped the state of Montana would change going forward.
Curtis Schomer, the author of the bill, said, “The only thing that is risky is not passing this bill.” He spoke on how the state might lose purchasing value for bonds should it keep investing in them.
What is the situation of the US states Bitcoin reserve bill?
The US states revealed in January 2025 that they intend to establish up to 20 strategic Bitcoin reserves inside the country. Legislation about the same has passed in several states, including Ohio, Texas, and Illinois.
This increase in state interest in Bitcoin and digital asset investments helped to further support the US pro-crypto posture. Though these changes have not directly impacted the price in the past month, they have fundamentally changed the regulatory scene.
Globally, Russia and a specific South African company, AltVest Capital, have also embraced the concept of a Bitcoin Strategic Reserve.
