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Bad News Came for Bitcoin (BTC) from the USA! Plans Put on Hold!
While US President Donald Trump continues to work on a strategic Bitcoin reserve, many states have also taken action for BTC reserves.
While awaiting positive news for BTC from the states, the Montana House of Representatives rejected the bill proposing the establishment of a Bitcoin reserve.
According to this, the Montana House of Representatives rejected House Bill No. 429, which envisages the establishment of a Bitcoin reserve, by a vote of 41 to 59.
Many lawmakers have opposed the bill, which aims to create an income account to invest in precious metals, stablecoins and Bitcoin, and keep the market cap consistently above $750 billion.
Montana State Representative Steven Kelly said the following in his speech at the General Assembly:
Legislator Curtis Schomer, who introduced the bill, said, "The only risky thing right now is not passing this bill. If the Montana investment board continues to invest in bonds, they will soon lose purchasing power. They can better utilize their money by investing in precious metals and cryptocurrencies."
Twenty-four states, including Arizona, Illinois, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, and Texas, have introduced legislation to establish Bitcoin reserves.