- New Hampshire’s House Commerce and Consumer Affairs Committee passed a Bitcoin reserve bill (HB302) with a 16-1 vote, allowing up to 5% of state funds to be allocated to Bitcoin.
- Several states including Utah, Texas, and Arizona are advancing similar Bitcoin reserve legislation, while others like Wyoming and North Dakota have rejected such proposals.
- President Trump recently announced plans for a U.S. Crypto Reserve with Bitcoin and Ethereum “at the heart,” adding federal momentum to state-level initiatives.
New Hampshire has joined the growing movement of U.S. states seeking to incorporate Bitcoin into their financial reserves. The Granite State’s House Commerce and Consumer Affairs Committee overwhelmingly approved House Bill 302 by a 16-1 margin on Wednesday, advancing legislation that would permit the state treasurer to invest up to 5% of public funds in Bitcoin alongside traditional precious metal assets.
The bipartisan bill, introduced by Republican Rep. Keith Ammon and co-sponsored by Democrats Chris McAleer and Carry Spier, doesn’t explicitly name Bitcoin but establishes eligibility criteria for digital assets with a market capitalization exceeding $500 billion. Currently, Bitcoin stands as the only cryptocurrency that meets this threshold, with a market cap of approximately $1.8 trillion according to CoinGecko data.
“We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class,” Ammon explained to Decrypt earlier this year.
The legislative push in New Hampshire reflects a broader national trend of state-level Bitcoin reserve initiatives. Utah has made progress with its Blockchain and Digital Innovation Amendments bill, which similarly proposes allocating up to 5% of state funds toward digital assets, primarily Bitcoin.
In Texas, lawmakers are advancing dual Bitcoin-related bills – one focused on investing 1% of general revenue funds and another for handling Bitcoin donations and payments. Meanwhile, Oklahoma’s House Government Oversight Committee has passed HB 1203, the Strategic Bitcoin Reserve Act, by a 12-2 vote, and Arizona’s Senate Finance Committee has approved its own Bitcoin reserve legislation, SB 1025.
Adding federal momentum to these state initiatives, President Donald Trump announced on Sunday plans to establish a U.S. Crypto Reserve with Bitcoin and Ethereum as central components, signaling potentially significant policy shifts in cryptocurrency adoption at the national level.
Not all states have embraced the Bitcoin reserve concept, however. South Dakota, Montana, Pennsylvania, North Dakota, and Wyoming have rejected similar proposals, with legislators citing concerns about Bitcoin’s price volatility and questioning its appropriateness as a government-held asset.
New Hampshire’s HB302 now advances to the House floor for further consideration, where it will face additional scrutiny before potentially becoming law. If passed, the legislation would represent a significant milestone in mainstream cryptocurrency adoption by state governments and could inspire similar initiatives in other jurisdictions.
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