New Hampshire’s House Commerce and Consumer Affairs Committee has overwhelmingly approved a bill that could pave the way for the state to invest in Bitcoin. The Bitcoin Reserve Bill, which passed with a resounding 16-1 vote, now heads to a full House vote, marking a crucial step in integrating digital assets into state financial reserves.
Introduced by Republican Representative Keith Ammon and co-sponsored by Democrats Chris McAleer and Carry Spier, House Bill 302 proposes allowing the state treasurer to allocate up to 5% of the general fund, revenue stabilization fund, or other authorized state funds into Bitcoin and precious metals like gold, silver, and platinum. Initially, the bill suggested a 10% allocation but was amended to mitigate potential risks.
The legislation specifies that only digital assets with an average market capitalization of at least $500 billion over the past year are eligible for inclusion, making Bitcoin the sole cryptocurrency that currently meets this criterion. Any acquired digital assets must be securely held by a qualified custodian or in the form of an exchange-traded product.
New Hampshire joins a growing list of states, including North Carolina, Oklahoma, and Texas, that are exploring the integration of Bitcoin into their financial strategies. This move aligns with broader national discussions on cryptocurrency adoption and regulation, as the U.S. continues to navigate the evolving landscape of digital assets.
If the bill passes the full House vote, it will proceed to further committee reviews before reaching the Senate for a final decision. This development underscores New Hampshire’s proactive stance on cryptocurrency adoption and could set a precedent for other states to follow suit.
