New Hampshire Begins a New Era of Bitcoin Reserves
The founder of the Satoshi Nakamoto Action Fund has announced that New Hampshire has become the first state in the U.S. to pass the Bitcoin Strategic Reserve Act (HB 302). This act allows the state treasurer to invest public funds in precious metals and digital assets with a market value exceeding $500 billion, with Bitcoin currently being the only asset that meets this criterion. This move provides a legislative template for other states, with Arizona, Illinois, Maryland, Michigan, and Texas also considering similar measures.
The bill signed by the Governor of New Hampshire allocates 10% of the state's general fund for investments in Bitcoin and similar assets, aimed at protecting taxpayer funds, achieving asset diversification, and promoting the future development of the state treasury. The bill allows the state government to invest in Bitcoin directly or through exchanges, and it can choose to self-custody or appoint qualified custodians.
Additionally, Arizona's Bitcoin Reserve Bill SB 1373 is also under consideration, although it has not yet been sent to the governor for signing. With the success of New Hampshire, this bill has sparked a cryptocurrency revolution.
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