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

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 is the latest state in the US to see a bill being rejected which aimed to invest public funds in Bitcoin.

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

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.