The first Bitcoin reserve state in the United States has been born. How significant is this?

The governor of New Hampshire has signed bill HB302, making it the first state in the nation to classify cryptocurrency as a strategic reserve. This bill allows the state to use no more than 5% of its funds each year (approximately $280 million to $770 million) to purchase precious metals or cryptocurrencies with a market capitalization exceeding $500 billion, with Bitcoin being the only one that currently meets this criterion. This initiative is as significant as the approval of a Bitcoin ETF, further enhancing the legality and investment value of Bitcoin.

Although the scale of New Hampshire's funding is not large, it sets a precedent. More states may follow suit in the future. For example, Arizona has just submitted the Bitcoin strategic reserve bill SB1373. Although similar bills have been rejected before, this submitted bill does not involve pensions, increasing the likelihood of its passage.