The cryptocurrency 'state reserve arms race' has begun! New Hampshire takes the lead, is Texas or North Carolina next?
State governments in the United States are starting to hoard Bitcoin.
New Hampshire has taken the lead, becoming the first state in the nation to legislate the establishment of a 'cryptocurrency strategic reserve.' The state treasurer will be responsible for this new fund, which is specifically for investing in digital assets—translated, this means the government is preparing to start buying coins.
What about the other states? They certainly don’t want to fall behind.
Texas and North Carolina are already on the way.
North Carolina's proposal has already passed the House, allowing the state treasury to invest up to 5% of its funds in 'qualified digital assets,' meaning they can buy coins, and they are also exploring whether to allow the state pension system to participate in cryptocurrency ETF investments, and they are even considering keeping seized coins directly as reserves.
Texas is even more straightforward—they want to establish a 'strategic Bitcoin reserve fund,' investing only in BTC, and stipulating that only cryptocurrencies with a market cap over $500 billion can be invested in (currently, only Bitcoin qualifies). The governor of Texas even stated on X: 'Texas should become the cryptocurrency capital.'
Arizona almost became the second, but the governor flatly denied it.
The reason is quite traditional: cryptocurrency is an 'untested investment.' But it is clear that not all states think this way.
Many industry insiders believe that in the next six months, 5-6 states will follow New Hampshire's lead and start their own 'crypto vaults.'
On one hand, it is to hedge against inflation and protect the balance sheet, and on the other hand, it is also a political statement: our state welcomes Web3 and Bitcoin.
Cryptocurrency reserves are not just a financial move, but also a policy signal.
A new round of 'arms race in Bitcoin among states' has already begun.
Who will be next? Texas looks promising, but don't underestimate North Carolina.
