New Hampshire has become the first state in the U.S. to enact the Strategic Bitcoin Reserve Bill into law, marking a landmark moment in cryptocurrency adoption at the state level. Introduced by Representative Keith Ammon earlier this year, the bill (HB 302) allows the state treasury to allocate up to 5% of its funds to Bitcoin and other qualifying digital assets.
Key Provisions of the New Hampshire Bitcoin Reserve Law
Eligible Assets:
- Bitcoin (BTC) is the primary asset, meeting the $500 billion market capitalization threshold.
- Other cryptocurrencies may qualify if they reach the same benchmark.
Custody Requirements:
- Assets must be held via state-controlled multisig wallets with a qualified custodian.
- Alternatively, exposure can be gained through BTC ETFs.
Effective Date:
- The law takes effect 60 days after Governor Ayotte’s signature.
👉 Explore how Bitcoin reserves could reshape state treasuries
Federal vs. State Bitcoin Adoption: A Diverging Path
While New Hampshire pushes forward, federal efforts remain stalled:
- Trump’s Executive Order (March 2024) proposed a national crypto reserve but lacked follow-through.
- Senator Cynthia Lummis’ Bitcoin Act Bill is pending, leaving regulatory gaps.
Contrast: States like Arizona and Florida recently rejected similar bills, citing volatility risks.
FAQs: New Hampshire’s Bitcoin Reserve
Q1: How does this law benefit New Hampshire?
A: It diversifies the state’s treasury with a non-correlated asset, hedging against inflation.
Q2: What safeguards are in place?
A: Strict custody rules and a 5% cap mitigate overexposure.
Q3: Could other states follow?
A: Yes—states like Wyoming are already exploring blockchain-friendly policies.
👉 Learn why Bitcoin is gaining traction in government reserves
Broader Implications for Crypto Adoption
- Market Confidence: Institutional BTC holdings by governments could reduce stigma.
- Legislative Momentum: Success in New Hampshire may inspire copycat bills.
Critics warn of Bitcoin’s price volatility, but proponents argue its scarcity model aligns with long-term treasury goals.
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