New Hampshire has just made a new turning point by getting closer to incorporating Bitcoin into the state's financial reserves. On Wednesday, the New Hampshire House Commerce and Consumer Protection Committee overwhelmingly passed the Bitcoin Bill HB 302 with a vote of 16-1, paving the way for this state to join Utah, Texas, and Arizona in the wave of cryptocurrency acceptance.

What is New Hampshire Doing with Bitcoin?

The bill #HB302 allows the state treasurer to allocate up to 5% of public funds to Bitcoin, alongside traditional assets like gold, silver, and platinum. This means Bitcoin could be considered as an official reserve asset of the state.

Notably, the bill does not directly mention Bitcoin, but only refers to digital assets with a market capitalization of 500 billion USD or more. Currently, only Bitcoin (1.8 trillion USD) qualifies, according to data from CoinGecko.

Reasons New Hampshire Wants to Own Bitcoin

According to Representative Keith Ammon, who initiated the bill, the goal of HB 302 is to help New Hampshire diversify its reserve assets and reduce dependence on the USD.

"We still have to stick with the US dollar, whether we like it or not, but this bill allows the state to invest a small portion in a decentralized asset that is not linked to the USD," Ammon shared with #Decrypt in January.

Bitcoin is seen as a form of digital gold, not only protecting against inflation but also having long-term growth potential. Incorporating Bitcoin into the state's investment portfolio could help protect public finances from traditional currency risks.

The Bitcoin Reserve Movement is Spreading in the U.S.

#NewHampshire is not the first state wanting to reserve Bitcoin. Several other states are also pushing similar bills:

  • Utah: Proposed allocation of 5% of state funds to Bitcoin and digital assets.

  • Texas: Two bills are under consideration, one proposing to invest 1% of total fund revenue in Bitcoin, and another allowing for accepting donations and payments in Bitcoin.

  • Oklahoma: Has passed the Bitcoin Reserve Bill HB 1203 with a vote of 12-2.

  • Arizona: Has passed the voting round at the Senate Finance Committee with the bill SB 1025.

Additionally, this trend is further reinforced as President Donald Trump recently announced a plan to create a U.S. Cryptocurrency Reserve Fund, with Bitcoin and Ethereum playing a central role.

Not Every State Agrees

Although Bitcoin is gradually being recognized by states, some states remain cautious, including South Dakota, Montana, Pennsylvania, North Dakota, and Wyoming. The main reason is the strong price volatility of Bitcoin, which makes many lawmakers concerned about the stability of this asset in the long term.

Is New Hampshire Really Accepting Bitcoin?

Currently, Bill HB 302 still needs to be passed in the state House before it can become official law. However, with the overwhelming voting result in the Commerce Committee (16-1), it is evident that New Hampshire is very serious about this plan.

If passed, New Hampshire will officially become one of the first states in the U.S. to hold Bitcoin as a public asset, marking an important milestone in legalizing cryptocurrency within the government financial system.

🚨 Risk Warning: Investing in cryptocurrency can be highly volatile and may not be suitable for everyone. Investors need to carefully consider before participating in the market.