New Hampshire is now the primary state within the U.S. to permit its treasury to spend money on bitcoin. Governor Kelly Ayotte signed Home Bill 302 (HB 302) into regulation. This can be a huge step in direction of mainstreaming bitcoin into public finance.
The invoice permits the New Hampshire State Treasurer to take a position as much as 5% of the state’s funds into digital belongings with a market cap of over $500 billion. At present solely bitcoin meets that requirement so it’s the one digital asset eligible to be bought beneath this regulation.
The invoice additionally permits funding in valuable metals, specifically gold, silver and platinum.
“New Hampshire is as soon as once more First within the Nation!” Governor Ayotte posted on X. “Simply signed a brand new regulation permitting our state to spend money on cryptocurrency and valuable metals.”
Supporters of the invoice see it as a approach for the state to diversify its reserves and defend towards inflation. Consultant Keith Ammon who launched the invoice in January 2025 mentioned it’s a “hedge towards inflation”.
In an interview he mentioned, “If the federal authorities managed the greenback higher, we wouldn’t have to be contemplating this stuff. However inflation is consuming our lunch. And that is one little approach our state might hedge towards inflation sooner or later.”
As of the tip of 2024, New Hampshire’s treasury had round $3.62 billion. If the complete 5% have been invested in bitcoin the state might purchase roughly 1,865 BTC at present costs.
To make sure the protection of those public funds, HB 302 has strict guidelines for the way the bitcoin have to be saved.
The regulation requires digital belongings to be saved in U.S.-regulated custody—both in a state-controlled multisignature pockets, with a certified custodian or by means of an exchange-traded product (ETP) listed within the U.S.
Rep. Ammon mentioned the state would possible begin by investing in a Bitcoin ETF akin to one managed by Constancy as an alternative of self custody which might be advanced and dangerous. “I don’t know in the event that they’re comfy with self-custody at this level” he mentioned.
The concept for the invoice was impressed by Satoshi Action Fund, a nonprofit that advocates for Bitcoin in public coverage. Dennis Porter, CEO and Co-Founding father of the group said:
“Satoshi Motion wrote the mannequin, New Hampshire engraved it into regulation, and now each treasurer nationwide can observe that roadmap. HB 302 proves you may defend taxpayer cash, diversify reserves, and future-proof state treasuries—all whereas embracing probably the most safe financial community on Earth.”
Now different states can observe New Hampshire’s lead. Texas, North Carolina and Arizona have all explored comparable laws. However in some states, the payments have stalled or been vetoed.
In Florida, the proposed bitcoin reserve invoice confronted “indefinite postponement”, whereas Arizona’s Governor Katie Hobbs vetoed the same invoice, citing bitcoin’s volatility.