Montana’s House voted against a bill that could have made Bitcoin a state reserve asset on Feb. 22, with many lawmakers concerned it would have allowed the state’s investment board to speculate too heavily with taxpayer money.

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.

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,