According to Cointelegraph, New Hampshire Governor Kelly Ayotte has signed a bill into law that permits the state's treasurer to invest in cryptocurrencies, including Bitcoin. The announcement was made on May 6, when Ayotte shared the news on social media, highlighting that the state would now be able to invest in both cryptocurrency and precious metals. This legislative move follows the passage of House Bill 302 in the state Senate and House of Representatives, which was initially introduced in January.
House Bill 302 allows New Hampshire's treasury to allocate funds for investments in cryptocurrencies with a market capitalization exceeding $500 billion. This stipulation effectively excludes many smaller tokens and memecoins from the state's investment portfolio. The signing of this bill marks New Hampshire as the first U.S. state to enact legislation aimed at establishing a strategic Bitcoin reserve, a move that could potentially influence other states considering similar initiatives.
The development in New Hampshire comes amid a broader national conversation about cryptocurrency investment strategies. While New Hampshire has moved forward with its legislation, other states are also exploring similar paths. For instance, Arizona recently saw a comparable bill pass through its House, only to be vetoed by Governor Katie Hobbs on May 2. This highlights the varied approaches and challenges faced by states as they navigate the complexities of cryptocurrency legislation.
As this story continues to unfold, additional details are expected to emerge, providing further insight into the implications of New Hampshire's decision and its potential impact on the broader U.S. cryptocurrency landscape. The move by Governor Ayotte and the New Hampshire legislature could serve as a precedent for other states and possibly influence federal government initiatives regarding cryptocurrency investments.
