In a first for the United States, New Hampshire has successfully enacted a ‘Strategic Bitcoin Reserve’ bill, as reported by Dennis Porter, the founder of the Satoshi Action Fund. This nonprofit organization is committed to promoting Bitcoin-friendly laws across the country.
“The ‘Live Free or Die’ state has just made a historic shift towards sound money. HB 302, the country’s first Bitcoin & Digital Assets Reserve Fund legislation, has been signed into law by the New Hampshire Governor,” read a statement from the Satoshi Action Fund on Tuesday. The bill was heavily influenced by the Strategic Bitcoin Reserve (SBR) model proposed by the Satoshi Action Fund.
Endorsed by Governor Kelly Ayotte, the HB 302 bill authorizes the state treasurer to invest public monies in digital assets with a market cap exceeding $500 billion — a bar presently cleared by Bitcoin alone. The law permits the treasurer to allocate 10% of the state’s general and other sanctioned funds for this purpose.
“Satoshi Action crafted the blueprint, New Hampshire cemented it into law, and now every state treasurer across the nation can follow this path,” asserted Dennis Porter, CEO & Co-Founder of Satoshi Action. “HB 302 demonstrates that it’s possible to safeguard taxpayer funds, diversify reserves, and future-proof state treasuries, all while embracing the most secure monetary network in existence. New Hampshire didn’t just pass a bill; it ignited a movement.”
As per the legislation, the state may invest in Bitcoin either directly or via an exchange-traded product. The treasury can opt to self-custody the fund or entrust it to a qualified custodian.
Earlier this month, New Hampshire’s House approved HB302 with a 192-179 vote, forwarding it to the Senate, which passed the bill with a 4-1 vote on April 23. Rep. Keith Ammon was the bill’s primary sponsor.
Several other states, including Arizona, Illinois, Maryland, Michigan, and Texas, are considering similar strategic crypto initiatives. Meanwhile, the Florida State Senate has “indefinitely postponed” two Bitcoin reserve-related bills.
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