Just In: New Hampshire Just Did What No Other State Has With Bitcoin Law

TL;DR Breakdown

New Hampshire has become the first U.S. state to authorize holding Bitcoin in its treasury. The Strategic Bitcoin Reserve Bill has officially become law after progressing through the legislature. The new law allows the state to invest up to 5 percent of its funds in digital assets. Only digital assets with a market capitalization of at least 500 billion dollars qualify for investment. The law mandates that Bitcoin be stored in a state-controlled multisignature wallet with a regulated U.S. custodian.

New Hampshire has become the first U.S. state to legally approve holding Bitcoin (BTC) and other qualified digital assets in its treasury. After months of legislative progress, the Strategic Bitcoin Reserve Bill (HB 302) has officially become law. This law allows the state to invest up to 5% of its funds in digital assets, including Bitcoin.

The law mandates that only digital assets with a market capitalization above $500 billion are eligible for investment. Currently, only Bitcoin meets this strict requirement, effectively making it the primary crypto asset under the law. This move positions New Hampshire ahead of other states in formally integrating digital assets into public finance.

Under the law, the state treasurer is authorized to manage digital asset holdings through regulated U.S. custodians. The assets must be stored in a state-controlled multisignature (multisig) wallet with a qualified custodian. Additionally, the law permits exposure to Bitcoin through exchange-traded funds (ETFs) for added flexibility.

New Hampshire Sets Strict Crypto Investment Rules

Bitcoin is the only digital asset currently meeting the $500 billion market capitalization requirement outlined in the new law. This clause automatically excludes other assets such as Ethereum and XRP from the reserve. The state intends to maintain this threshold to minimize volatility and ensure asset stability.

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New Hampshire modeled the framework on a policy proposal by the Satoshi Action Fund, led by Bitcoin advocate Dennis Porter. The new reserve structure includes guidelines for direct purchases and ETF-based exposure to Bitcoin. Legislators designed this approach to maintain transparency and minimize risks associated with crypto asset management.

The legislation passed the state House in March after being introduced in January. It became law 60 days after receiving Governor Ayotte’s signature. By doing so, New Hampshire has implemented a clearly defined structure for crypto investments in government finance.

Arizona and Florida Reject Bitcoin Reserve Plans

While New Hampshire moved forward, other states have responded differently to similar Bitcoin reserve proposals. Arizona’s Governor Katie Hobbs recently vetoed a similar bill, drawing criticism from parts of the digital asset sector. Florida also did not proceed with its reserve plans, which maintain its current policies.

At the federal level, momentum around Bitcoin reserves remains limited despite earlier discussions. President Donald Trump signed an executive order to establish a national crypto reserve in March.

However, the federal government has not advanced substantial adoption measures since then. Senator Cynthia Lummis reintroduced the Bitcoin Act Bill to establish a national legal framework. Though detailed, the legislation has yet to pass and become law.

 

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