A proposal in the Montana House of Representatives to introduce a state Bitcoin reserve fund has failed. The Inflation Protection Act, as it was called, was passed by the House Business and Labor Committee,

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 lawmakers rejected a bill proposing a strategic Bitcoin reserve even as Michael Saylor hinted at more BTC buying.

The proponents of the bill maintained that investing in Bitcoin and other investments would enable the state to earn better returns on excess funds. Representative Lee Demming insisted that Montana had a responsibility to ensure maximum returns on taxpayers’ money instead of allowing it to remain idle.

The state’s ambitious House Bill No. 429, which aimed to create a special revenue account for investing in precious metals, stablecoins, and high-market-cap digital assets, failed to clear the House of Representatives.

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

South Dakota lawmakers rejected a bill that would have allowed the state to invest up to 10% of its public funds in Bitcoin, following a similar rejection in Montana, though the bill's sponsor plans to reintroduce it next year while other states continue to explore cryptocurrency investment options.