Montana’s House Bill No. 429, which sought to establish a state-backed Bitcoin reserve, has failed to move forward after a crucial vote in the state’s House of Representatives. The bill was rejected by a 41-59 vote on February 22,

Montana's House of Representatives on Saturday voted down a bill that sought to make Bitcoin a state reserve asset.

Montana’s Bitcoin reserve bill failed approval from the House, with 41 – 59 votes, “largely due to fiscal conservative opposition.”

New documents reveal that a Montana bill to use Bitcoin (BTC) as a reserve asset is heading toward the state's House of Representatives for a vote.

Montana's rejection of a Bitcoin reserve bill highlights the diverse approaches US states are taking toward cryptocurrency investment legislation, with some advancing similar proposals while others exercise caution.

Montana has blazed a trail, becoming the fourth U.S. state to push a Bitcoin reserve bill through to the House. On February 19, Montana’s House

Montana’s House Business and Labor Committee has passed a bill that could open the door for Bitcoin and other cryptos to become reserve assets after a BTC strategic reserve bill passed the subcommittee level.