New Hampshire Makes History With First U.S. 'Strategic Bitcoin Reserve' Law
New Hampshire has made history by becoming the first U.S. state to pass a 'Strategic Bitcoin Reserve' bill, HB 302. Governor Kelly Ayotte signed the legislation into law, setting a precedent for other states to follow and potentially igniting a national wave of Bitcoin adoption at the state treasury level.
Key champions of the legislation include Rep. Keith Ammon (R-Hillsborough 40) and Majority Leader Jason Osborne. Ian Huyett of the NH Blockchain Council also played a significant role in pushing the bill forward. The law establishes a framework for a Bitcoin and digital assets reserve fund, with any assets held in U.S.-regulated custody for security and transparency.
The bill takes effect 60 days after passage, authorizing the New Hampshire Treasurer to purchase Bitcoin and other digital assets with a market cap above $500 billion. The law caps Bitcoin and digital asset holdings at 5% of the state's total funds, complementing the broader investment strategy. Dennis Porter, CEO and Co-Founder of Satoshi Action, a nonprofit policy organization that helped draft the model for the bill, celebrated the move. He stated that HB 302 proves you can protect taxpayer money while embracing Bitcoin.
New Hampshire's passage of HB 302 marks a significant step in Bitcoin adoption at the state level. The law sets a precedent for other states to follow and demonstrates a commitment to exploring the potential of digital assets in investment portfolios.
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