News/CryptoPotato/New Hampshire Pioneers Bitcoin Reserve Legislation in the US…New Hampshire is the first to authorize its treasury to invest in cryptocurrency assets, following Governor Kelly Ayotte’s signing of House Bill 302 on May 6.
“New Hampshire is leading the nation once again,” she proclaimed on X, further elaborating, “We’ve just put a fresh law into effect, allowing our state to invest in cryptocurrencies and precious metals.”
The law will be operational in 60 days, greenlighting the state to start accumulating Bitcoin. The asset saw a surge from $94,000 to a peak of $97,500, which is more attributed to the uplifting developments on the US-China tariff scenario.
HB 302 was initially presented in January. It empowers the New Hampshire state Treasurer to buy Bitcoin and other digital assets with a market capitalization exceeding $500 billion. However, only Bitcoin fits the criteria at the moment, with Ethereum trailing behind with a market cap of $220 billion.
The law restricts holdings to 5% of the total state funds to ensure a balanced investment strategy. All assets must be stored in US-regulated custody through state-controlled multisignature wallets, qualified custodians, or exchange-traded products. The objective is to diversify state reserves while upholding fiscal discipline and transparency.
“The ‘Live Free or Die’ state is pioneering the future of commerce and digital assets,” stated New Hampshire Republicans on X. The bill was inspired by Satoshi Action’s policy framework, and the group has backed six pro-Bitcoin laws and over 20 similar bills nationwide.
On the other hand, Florida and Arizona have taken a step back. Just days before, Florida’s legislature dismissed two analogous crypto investment bills. Florida’s House Bill 487 and Senate Bill 550 have been “indefinitely postponed and withdrawn from consideration.” These bills, introduced in February, would have permitted Florida’s chief financial officer and the State Board of Administration to invest up to 10% of certain state funds into Bitcoin.
Arizona Governor Katie Hobbs vetoed a similar bill, HB 1025, labeling digital assets as “untested investments” on May 3. The state has another opportunity to establish a Bitcoin reserve with legislation, HB 1371, still awaiting a final vote. However, it seems improbable that the Arizona Governor’s perception of cryptocurrencies will alter soon.
