#Sonic (S) Price and Ecosystem Rejection of Bitcoin and altcoins from 4 states in the USA

The bill proposing the investment of public funds in Bitcoin in Montana has been rejected. The state thus joins North Dakota, Wyoming, and Pennsylvania, which have also rejected similar BTC reserve proposals.
In Montana, a bill targeting the investment of public funds in Bitcoin was rejected in a vote in the state House of Representatives. With this decision, the state joins the ranks of states such as North Dakota, Wyoming, and Pennsylvania that have not accepted proposals to add Bitcoin to their state reserves.

At the beginning of this month, Representative Curtis Schomer presented House Bill 429, which aimed to create a special account that could allocate funds of up to 50 million dollars to cryptocurrencies, stable coins, and precious metals. Schomer stated that this step was taken to diversify the state's assets and provide higher returns compared to traditional bond investments.

In the vote held on Friday, the bill was rejected by 59 votes to 41. Although Bitcoin is the only digital asset that meets the criteria specified in the bill, it faced strong opposition from members of parliament.
The tendency to support Bitcoin reserves gains momentum in some states, with those taking action on this issue moving faster than the federal government. According to the Bitcoin Reserve Tracker data, in about 19 states including Arizona, Illinois, Kentucky, Maryland, Oklahoma, New Hampshire, and Texas, legislation regarding Bitcoin reserves is still under consideration.

Here's the latest situation:

Utah: The "Blockchain and Digital Innovation Changes" bill includes a provision allowing the state treasury to allocate up to 5% of its funds to digital assets. The bill has not yet been finalized.

Arizona: The Senate Finance Committee approved a bill allowing up to 10% of public funds, including retirement systems, to be invested in cryptocurrencies. The bill will be sent to the Senate Rules Committee for further review and may then proceed to the House of Representatives.

Texas: The state is discussing two separate bills. The first one envisages allocating 1% of the general revenue fund to Bitcoin; the second one covers Bitcoin donations and crypto payment conversions.

While some states in America continue their efforts to integrate crypto assets into public finance, countries like Switzerland, Brazil, Japan, and Russia are also considering incorporating Bitcoin into their national reserve strategies.
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