Bitcoin Reserve Bill Becomes Law in New Hampshire
The United States now has its first Strategic Bitcoin Reserve Bill as New Hampshire, becoming the first state in America to pass this legislation. Representative Keith Ammon founded this national first in 2019 as the State Strategic Bitcoin Reserve law received public backing.
Both the state House and Senate voted their support to make HB 302 a legal requirement that their governor signed. After its initial January presentation, the House approved the bill in March, bringing it closer to becoming law. This week, Governor Chris Sununu made New Hampshire the first US state to adopt Bitcoin as part of its government investment strategy.
Bitcoin Reserve Law Inspired by Satoshi Action Fund
The new State Treasurer law allows investments in Bitcoin and digital assets with capitalization above $500 billion. At this time, only Bitcoin reaches this limit. Under this law, New Hampshire can invest up to 5% of its funds into digital currencies to further embrace cryptocurrencies as a state.
New Hampshire adopted Bitcoin legislation from the Satoshi Action Fund crypto advocacy group who works to support Bitcoin with Dennis Porter as their leader. According to a media announcement that Dennis Porter shared on X, New Hampshire launched its first crypto-friendly legislation in the United States.
New Hampshire made a historic step forward toward Bitcoin adoption when this law was introduced. The law serves as a model for other states to follow and proves that digital assets must be part of a state’s financial programs for the future.
New Hampshire follows a trend that multiple U.S. states continue as local governments invest more in cryptocurrency holdings. States now embrace digital currencies more regularly in public finance operations but New Hampshire stands apart with its special setup.
The state officials want New Hampshire to direct the cryptocurrency revolution while strengthening its financial situation and drawing tech sector investments.
New Hampshire leads the nation with its cryptocurrency plan, setting a precedent for other American states to review. People who support cryptocurrency say it shields states from rising prices and makes an interesting new investment tool for treasury offices. Some experts believe digital assets show unpredictable value movements and pose unknown future effects.
As pioneer in this field, New Hampshire pushes forward, leading the way for governments to deal with cryptocurrencies. New Hampshire took an early lead in digital currency reserves yet other U.S. states may not follow their example.
