New Hampshire Makes History with Strategic Bitcoin Reserve Law
New Hampshire has made history by enacting America’s first state-level Strategic Bitcoin Reserve law. The new law, signed by Governor Kelly Ayotte on May 6, establishes a framework for allocating a portion of state funds to Bitcoin (BTC) and select digital assets.
The legislation, known as HB 302, authorizes the state treasurer to hold Bitcoin in a regulated reserve structure. Developed by the nonprofit organization Satoshi Action Fund, the model policy aims to formalize the use of Bitcoin as a financial reserve asset for state governments.
Introduced by Rep. Keith Ammon (R-Hillsborough 40) in 2022, the law garnered support from Majority Leader Jason Osborne, the New Hampshire Blockchain Council, and other local advocates. It allows the treasurer to purchase Bitcoin and other digital assets with a market capitalization exceeding $500 billion, with current holdings capped at 5% of the state’s reserve portfolio.
Governor Ayotte confirmed the signing of the law on social media, stating, “New Hampshire is once again First in the Nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals.” The New Hampshire House Republicans also praised the move, highlighting the state’s leadership in embracing the future of commerce and digital assets.
To ensure compliance and transparency, the assets will be held by a state-controlled multi-signature scheme, a qualified custodian, or a US-based exchange-traded product. The law will take effect 60 days from enactment.
Dennis Porter, CEO of Satoshi Action Fund, hailed HB 302 as a blueprint for national adoption. With this approval, New Hampshire becomes the first US state to establish a Strategic Bitcoin Reserve, setting a precedent for other states to follow.
According to Bitcoin Laws data, 37 states have introduced similar legislative proposals, with Arizona emerging as a strong contender for enacting a second Strategic Bitcoin Reserve law. North Carolina and Texas are also in the race, presenting their proposals to the Senate committee for review.
By setting operational parameters and establishing a legal reserve policy, New Hampshire has paved the way for holding Bitcoin in public treasury accounts across the US. The state’s bold move underscores the growing acceptance and integration of cryptocurrencies into mainstream financial systems.