New Hampshire has made history as the first state in the U.S. to permit government investments in cryptocurrencies, including Bitcoin (BTC).
On May 6, a notification from Ayotte revealed that New Hampshire can now “invest in cryptocurrency and precious metals,” following the passage of related bills by both the state Senate and House of Representatives. Introduced in January, House Bill 302 allows the state’s Treasury department to allocate funds for cryptocurrency investments in assets with market capitalizations over $500 billion, filtering out numerous tokens and stakeholders.
New Hampshire Republicans noted in a social media post, “The Live Free or Die State is leading the way in building the future of commercial transactions and digital assets.”
By enacting this legislation, New Hampshire positions itself ahead of several other states exploring similar measures to build strategic Bitcoin reserves, potentially collaborating with the federal government. While a comparable bill in Arizona passed through state houses in April, it was vetoed by Governor Katie Hobbs on May 2. Meanwhile, Florida has been assessing two crypto-related bills as of May 3.
Are New Hampshire’s moves setting the stage for federal action?
With various states attempting to establish crypto reserves, former President Donald Trump and other Republican lawmakers are advocating for similar initiatives at the federal level. In March, Trump signed an executive order aimed at creating a “digital asset reserve” alongside a “strategic Bitcoin reserve.”
Senator Cynthia Ramis is pushing for innovation and competitiveness through the National Optimized Investment (Bitcoin) Act, proposing that the U.S. government could potentially acquire over a million BTC through citizen and criminal forfeiture. This bill is currently under consideration by the U.S. Senate Banking Committee.
