The crypto market has experienced a decline over the weekend. Bitcoin has fallen back to $95,000 after nearing $100,000 just days earlier. This drop has also affected altcoins, leading to minor price decreases. However, there has been a rise in trading activity following the weekend slump.
Montana’s House Representatives voted against a Bitcoin Reserve Bill in the United States. This bill aimed to include Bitcoin, digital assets, and stablecoins as state reserve assets.
One representative expressed concerns about protecting taxpayers’ money, stating that such investments are too risky. Despite this setback, the community’s reaction was not overly negative. Some members hope that Montana may change its stance in the future.
The bill’s sponsor, Curtis Schomer, argued that the real risk lies in not passing the bill. He warned that if the state continues to invest in bonds, it could lose purchasing power.
Looking at the broader landscape, the U.S. states plan to introduce up to 20 Strategic Bitcoin reserves by January 2025. States like Ohio, Texas, and Illinois have already passed related bills.
This growing interest in Bitcoin and digital assets reflects a shift towards a pro-crypto stance in the U.S. While these changes have not yet significantly impacted Bitcoin’s price, they are transforming the regulatory environment.
Internationally, Russia and a South African firm called AltVest Capital are also exploring the Bitcoin Strategic Reserve concept. This indicates a global trend towards recognizing Bitcoin as a valuable asset.
