Breaking: New Hampshire Becomes First US State to Approve Bitcoin Reserve Law
Hightlights
- Bitcoin is now a reserve asset in New Hampshire following the signing of the HB 302 Bill into law.
- The state is authorized to hold up to 5% of its funds in digital currencies, including Bitcoin.
- Other digital assets with a market cap of at least $500 billion may also be acquired by the state under the same law.
New Hampshire has officially made history by becoming the first state in the U.S. to pass a law creating a strategic Bitcoin reserve. Months after being introduced by Representative Keith Ammon, the bill has now been signed into law. The initiative is modeled on a framework developed by the Satoshi Action Fund, a pro-Bitcoin organization linked to advocate Dennis Porter.
New Hampshire Sets the Standard for State-Level Bitcoin Reserves
According to a press release shared by Porter on X (formerly Twitter), the bill—designated HB 302—has now become law, marking a national first. The legislation permits the state treasurer to invest in Bitcoin and other digital assets with a market cap of at least $500 billion. Currently, Bitcoin is the only asset meeting that benchmark.
Originally introduced in January, the bill gained momentum when it passed the state House in March. It allows New Hampshire to allocate up to 5% of its financial reserves into approved digital assets.
To ensure secure handling, the law requires all digital assets to be stored with U.S.-regulated custodians. Bitcoin holdings will be placed in a state-controlled multisignature wallet managed by a qualified custodian. Additionally, the state can gain exposure to Bitcoin through approved exchange-traded funds (ETFs).
The legislation will officially take effect 60 days after it is signed by Governor Kelly Ayotte. New Hampshire’s move aligns with a growing trend of U.S. states exploring cryptocurrency reserves as part of their financial strategy.
Diverging Paths Across States
Not all states are following New Hampshire’s lead. Florida and Arizona have taken opposing stances, with Arizona Governor Katie Hobbs recently vetoing a similar Bitcoin reserve bill—drawing criticism from industry leaders, according to CoinGape.
Federal Bitcoin Reserve Remains in Limbo
On the national level, the idea of a federal Bitcoin reserve gained attention after former President Donald Trump signed an executive order in March, initiating discussions about establishing a national crypto reserve. That early framework included Bitcoin, Ethereum, and XRP.
Despite this momentum, there have been no significant federal updates on Bitcoin adoption. Unlike New Hampshire, the federal government has not committed taxpayer funds to cryptocurrency reserves.
Senator Cynthia Lummis has reintroduced the Bitcoin Act, which outlines a legislative roadmap for nationwide crypto adoption. However, the bill has yet to become law, leaving open questions about the future of federal involvement in digital assets.
