New Hampshire is one step closer to adding Bitcoin to its state reserves. A bill introduced by Republican Keith Ammon, with support from Democrats Chris McAleer and Carry Spier, has cleared an important legislative hurdle. With this progress, the state joins others like North Carolina, Oklahoma, and Texas, which have also advanced similar Bitcoin reserve proposals.
Here’s a closer look.
The House Commerce and Affairs Committee voted 16-1 in favor of House Bill 302, showing strong support for the measure. The bill will now move to the full House for a final vote.
If passed, the bill would allow New Hampshire to invest up to 5% of its general fund, revenue stabilization fund, or other state funds in Bitcoin. The original plan proposed a 10% investment, but lawmakers later reduced it to 5%.
To ensure security, the bill requires that any Bitcoin purchased be held by a qualified custodian or in an exchange-traded fund (ETF). It also permits investments in gold, silver, and platinum, giving the state additional options beyond digital assets.
The bill sets a strict rule: only digital assets with an average market capitalization of $500 billion over the past year qualify for investment.
At present, Bitcoin is the only cryptocurrency that meets this requirement, with a market cap of $1.81 trillion. Ethereum, the second-largest cryptocurrency, has a market cap of $276.3 billion, while XRP follows with $145 billion—both falling well below the threshold.
On a national level, President Donald Trump has announced plans to create a Crypto Strategic Reserve. However, details about which cryptocurrencies will be included remain unclear.
Since taking office, the Trump administration has introduced several crypto-friendly policies, including forming a task force under the SEC to establish clear regulations for the industry.
Many experts, including Bitwise CIO Matt Hougan, believe Bitcoin will dominate the reserve, with some suggesting it could be Bitcoin-only.
New Hampshire is not the only state moving in this direction. Utah and Arizona have also made progress in setting up legal frameworks for Bitcoin reserves.
With the full House vote approaching, New Hampshire’s decision will be an important moment for state-level Bitcoin adoption. If approved, the bill could further strengthen Bitcoin’s role in government reserves while aligning with broader national trends in crypto policy.
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