New Hampshire Becomes First to Approve Bitcoin Reserve—Will Other States Follow?
By: thebitjournal|2025/05/08 04:00:09
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New Hampshire is on the verge to have the first strategic Bitcoin reserve of a U.S. state to be created, after House Bill 302 (HB 302) passes and the state treasurer is authorized to invest up to 5% in Bitcoin or other high value digital assets. Dennis Porter, CEO of the Satoshi Action Fund, formally announced the landmark legislation Tuesday. It’s a bold move in what initial public funds can be managed, putting the Granite State on the map as the first state to adopt crypto at the state level. STRATEGIC BITCOIN RESERVE IS LAW! pic.twitter.com/30zXx9srfJ — Dennis Porter (@Dennis_Porter_) May 6, 2025 New Hampshire’s Bitcoin Reserve Sparks Nationwide Movement First introduced in January, HB 302 , gives officials the ability to allocate state funds to both precious metals, and specific digital assets with a market capitalization of over $500 billion. That means Bitcoin, which, as of this writing, has a market cap of roughly $1.9 trillion per TradingView , is a prime candidate. The newly enacted law states that any digital assets obtained must be kept using high security custody protocols. This can be done directly in a state managed multisignature wallet, via a qualified financial institution custody, or by investment in U.S. regulated exchange traded products (ETPs). Dennis Porter, CEO and Co-Founder of Satoshi Action, said: “Satoshi Action drafted the model, New Hampshire engraved it into law, and now every treasurer nationwide can follow that roadmap. HB 302 proves you can protect taxpayer money, diversify reserves, and future-proof state treasuries all while embracing the most secure monetary network on Earth. New Hampshire didn’t just pass a bill; it sparked a movement.” Bitcoin Legislation Gains Momentum in States The bill, spearheaded by long time Bitcoin proponent Keith Ammon, a recipient of the Satoshi Action Fund “Lawmaker of the Year” award, alongside House Majority Leader Jason Osborne. Together, their work guided the bill through legislative process to become law. After official passage, HB 302 will officially take effect within 60 days, giving the state time to build the infrastructure for digital asset acquisition and custody. New Hampshire is moving on while other states are still fighting legislative obstacles. Just last week, Arizona’s attempt to pass a similar measure was stopped short when Governor Katie Hobbs vetoed Senate Bill 1025, which would have allowed Arizona to invest up to 10% of state treasury and pension funds in digital assets. Florida Withdraws Its Bitcoin Reserve Bills Florida also did not manage to pass its own Bitcoin reserve initiative. During the state’s legislative session that ended May 2, House Bill 487 and Senate Bill 550, which would create a state level Bitcoin reserve, were both withdrawn from consideration. New Hampshire’s action could spur other states interested in incorporating digital assets into their public finance strategies. With interest in institutional Bitcoin adoption growing, Granite State’s pioneering stance may be an example to follow for lawmakers nationwide. Conclusion New Hampshire becomes first state to establish Bitcoin reserve, a bold cryptographic move well worth celebrating. Yet other states continue to battle toward their own such legislation, and the Granite State’s clearcut action may signal a reversal in public finance, and development of digital assets into a serious piece of government treasury strategy. Follow us on Twitter and LinkedIn , and join our Telegram channel to be instantly informed about breaking news! FAQs Q1: What is HB 302? A: It’s a law allowing New Hampshire to invest up to 5% of public funds in Bitcoin and other major digital assets. Q2: How will the Bitcoin be stored? A: Through secure methods like multisig wallets, qualified custodians, or U.S.-regulated ETPs. Q3: When does the law take effect? A: It takes effect 60 days after passage. Q4: Are other states doing this too? A: Arizona and Florida tried, but their bills failed. New Hampshire is first to succeed. Glossary Of Key Terms HB 302 New Hampshire law allowing up to 5% of state funds in Bitcoin and digital assets. Bitcoin Reserve State-held Bitcoin used to diversify and secure public funds. Multisig Wallet A crypto wallet needing multiple approvals to access funds. ETP (Exchange-Traded Product) A regulated investment tracking assets like Bitcoin. Market Cap Total value of a cryptocurrency in circulation. Qualified Custodian Authorized institution to securely store digital assets. Reference twitter The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information. Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means. For advertising inquiries, please email . [email protected] or Telegram Sign Up For Daily Newsletter I have read and agree to the terms & conditions
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