#crypto #BTC #reserve The American state of New Hampshire has become a pioneer in state investments in digital assets. Governor Kelly Ayotte today signed a law that allows the state treasury to invest in cryptocurrencies, including Bitcoin, as well as precious metals.
From New Hampshire to federal initiatives
The governor of New Hampshire, Kelly Ayotte, today validated the new law with her signature, which opens the state treasury to investments in cryptocurrencies and precious metals. The bill, labeled as House Bill 302 and introduced in January, successfully passed both chambers of the state legislature.
The new legislation specifically allows the use of state funds for the purchase of cryptocurrencies, but on the condition that their market capitalization must exceed $500 billion. This criterion effectively excludes most smaller tokens and so-called memecoins, focusing on the largest players in the market, such as Bitcoin.
With the signing of the law, New Hampshire became the first American state where such legislation was approved and signed by a Republican governor. Other states are also attempting similar measures, but with less success. For example, in Arizona, a similar bill passed the House of Representatives in April, but was vetoed by Democratic Governor Katie Hobbs on May 2. In Florida, the state government withdrew two bills related to the creation of cryptocurrency reserves from consideration on May 3.
Efforts at the state level to create cryptocurrency reserves indicate a growing interest in digital assets even at the federal level. American President Donald Trump signed an executive order in March aimed at creating a 'Digital Asset Reserve' and a 'Strategic Bitcoin Reserve.'
Alongside this, Senator Cynthia Lummis introduced a bill known as the BITCOIN Act. Under this proposal, Lummis suggested that the federal government could hold more than one million bitcoins acquired, for example, through the confiscation of assets from criminal activity. The bill is currently being considered by the banking committee of the United States Senate.
