New Hampshire Makes History As First US State To Pass Bitcoin Reserve Bill

New Hampshire has won the race among U.S. states looking to pass laws allowing them to invest public funds in crypto reserves. Republican Governor Kelly Ayotte signed bill HB 302 into law on Tuesday, allowing the state to accumulate Bitcoin, making it the first in the US to do so.

New Hampshire Approves First State-Level Strategic Bitcoin Reserve

“New Hampshire is once again first in the nation!” Governor Ayotte asserted on the X social media site. “Just signed a new law allowing our state to invest in cryptocurrency and precious metals.”

The New Hampshire bill, which was initially introduced in January, allows the investment of up to 5% of public funds in a digital asset that has at least $500 billion in market capitalization — a threshold only BTC currently meets.

As per the bill, the state can invest in Bitcoin directly or via exchange-traded products. The treasury can hold the fund securely in a multisig wallet or keep it with a qualified custodian.

“Satoshi Action drafted the model, New Hampshire engraved it into law, and now every treasurer nationwide can follow that roadmap,” said Dennis Porter, the founder of the Satoshi Action Fund. “HB 302 proves you can protect taxpayer money, diversify reserves, and future-proof state treasuries — all while embracing the most secure monetary network on Earth. New Hampshire didn’t just pass a bill; it sparked a movement.”

The Strategic Bitcoin Reserve law will officially take effect 60 days after the signing by the Governor, creating a framework for the state to start scooping up BTC.

Although New Hampshire is the first US state to approve a crypto reserve law, there is a slew of other states that have been making legislative efforts to set up a Bitcoin reserve.

Notably, Arizona had been the first state to pass a similar bill to its governor’s desk, but the state’s governor recently vetoed the legislation. On May 5, Florida “indefinitely postponed” two crypto-related bills that would have helped create a Bitcoin reserve for the state, joining a number of other states whose attempts to back their treasury with Bitcoin have misfired, despite intensified national attention on the policy since President Donald Trump’s pledge.