In a significant move towards financial innovation and diversification, the New Hampshire House passed a pivotal Bitcoin reserve bill on April 10, 2025. This legislation, known as House Bill 302, was approved with a narrow margin of 192-179, marking New Hampshire as the fourth state to advance such a proposal through one legislative chamber.
The journey of House Bill 302 has been noteworthy, having initially cleared the House Commerce and Consumer Affairs Committee with an impressive 16-1 vote earlier in March. If enacted, the bill would empower the state treasurer to allocate up to 10% of New Hampshire’s general fund and other approved revenue sources into a mix of digital assets and precious metals, including Bitcoin, gold, silver, and platinum.
To be eligible for this reserve, cryptocurrencies must maintain an average market capitalization of at least $500 billion over the prior calendar year, a benchmark presently only satisfied by Bitcoin. Supporters, such as Republican Representative Jordan Ulery, argue that such strategic investments could lead to substantial revenue for the state, highlighting the potential for earning significant profits through investments in high-value assets like Bitcoin.
- Revenue Generation: Lawmakers believe this bill could open new avenues of income for the state.
- Financial Diversification: It aims to diversify the state’s investment portfolio.
- Legislative Progress: New Hampshire joins Arizona, Texas, and Oklahoma in this legislative advancement.
- Broader Blockchain Initiatives: Besides HB302, lawmakers are also considering two additional blockchain-related bills, HB310 for stablecoins and HB639 for blockchain regulations.
New Hampshire’s advancement of this legislation aligns with a growing trend across the United States, where a total of 47 strategic Bitcoin reserve bills have been introduced in 26 states, reflecting an increasing acceptance of cryptocurrencies in legislative frameworks. Notably, Arizona is currently at the forefront of this movement with two bills showing significant regulatory progress.
Coincidentally, on the same day of this historic vote, Florida’s House Insurance and Banking Subcommittee also unanimously advanced its own Bitcoin reserve bill, HB487, which would allow the state’s Chief Financial Officer to invest a similar percentage of public funds. This wave of support for Bitcoin reserve legislation across multiple states suggests a broader shift towards acknowledging and integrating digital currencies into state financial strategies.
