Montana, North Dakota, and Wyoming have slammed the brakes on Bitcoin reserves. These states recently rejected bills aimed at creating state-managed Bitcoin funds, citing the cryptocurrency’s notorious volatility. And they’re not alone in their caution—lawmakers are increasingly wary of the financial risks posed by digital assets.
The Montana decision is particularly telling. House Bill 429, which would have allowed the state to invest up to $50 million in cryptocurrencies, stablecoins, and precious metals, was struck down by a vote of 41-59. Why? Lawmakers feared the risks tied to investing taxpayer dollars in such unpredictable, volatile assets. Let’s face it—Bitcoin’s price swings aren’t exactly the foundation you want for state-managed funds.
Meanwhile, North Dakota and Wyoming followed suit with similar rejections, raising red flags about the instability of Bitcoin. Despite its allure as a high-return investment, the state governments aren’t willing to gamble with public money. It’s not just about the possibility of gains—it’s about protecting taxpayers from a potential crash.
It’s easy to see why these states are proceeding cautiously. Bitcoin’s unpredictable behavior can make even the most seasoned investors nervous, and these state legislators are prioritizing stability and reliability over the temptation of high returns. While the cryptocurrency community will no doubt argue that these decisions stifle innovation, the cold hard reality is that state funds need a solid foundation. And Bitcoin’s volatility doesn’t provide that.
The push for digital assets to integrate into government funds continues, but Montana, North Dakota, and Wyoming are sending a clear message: don’t bet the farm on crypto just yet.
Sources:
https://www.livebitcoinnews.com/us-montana-lawmakers-push-back-against-bitcoin-reserve-bill/
https://coinjournal.net/news/montana-house-representatives-reject-bitcoin-reserve-bill/
https://cryptonews.com/news/montana-house-lawmakers-vote-against-bitcoin-reserve-bill/
https://legiscan.com/MT/bill/HB429/2025
https://cointelegraph.com/news/montana-bitcoin-reserve-bill-fail-pass-in-house
https://coingape.com/bitcoin-reserve-bill-fails-as-south-dakota-lawmakers-shut-down-proposal/
https://decrypt.co/300499/north-dakota-considers-state-bitcoin-treasury
https://bitbo.io/news/us-states-reject-bitcoin-reserves/
https://www.ccn.com/news/crypto/us-states-strategic-bitcoin-reserve-2025/
https://wyoleg.gov/Legislation/2025/HB0201
https://bitcoinmagazine.com/politics/wyoming-introduces-bitcoin-strategic-reserve-bill-
https://btctimes.com/wyoming-introduces-bill-to-establish-bitcoin-strategic-reserve/