- New Hampshire allows up to 5% of state funds to be invested in Bitcoin and top cryptoassets.
- Governor Ayotte signs HB 302, making New Hampshire the first U.S. state with a BTC reserve.
- Only Bitcoin qualifies under the law’s $500B market cap requirement for investment.
New Hampshire has made history by becoming the first U.S. state to authorize a Strategic Bitcoin Reserve. Governor Kelly Ayotte signed House Bill 302 into law on Tuesday giving the state treasurer the power to invest up to 5% of public funds in digital assets with a market capitalization above $500 billion. At present, Bitcoin is the only cryptocurrency that meets this requirement.
The bill enables New Hampshire’s treasury to allocate funds from the general account into Bitcoin or other qualifying assets directly or through exchange-traded products. The treasury also has the flexibility to manage the reserve via self-custody or by using a qualified custodian. This move follows a 192-179 vote in the state House and a 4-1 vote in the Senate.
New Hampshire Leads as Other States Stall on Crypto Reserve Legislation
While New Hampshire advanced its crypto legislation, similar efforts stalled in other states. Arizona’s governor vetoed a comparable bill, and Florida recently postponed two Bitcoin reserve proposals indefinitely. Illinois, Maryland, Michigan, North Carolina, and Texas are still reviewing similar strategies but have yet to pass any binding legislation.
Dennis Porter, founder of the Satoshi Action Fund and a key advocate for the initiative, called New Hampshire’s bill a turning point. “The first one’s the hardest,” Porter said. “Now that one state has succeeded, momentum in other states is likely to grow.”
Republican lawmakers in New Hampshire posted on X that the state is “OFFICIALLY the first” to establish a legislative framework for a Bitcoin reserve. Governor Ayotte also echoed this sentiment in her announcement on social media, emphasizing the state’s pioneering role.
Strategic Framework Allows Diversification of State Reserves
House Bill 302 permits investment in Bitcoin and any digital asset with a market capitalization above $500 billion. While Bitcoin currently holds that distinction, the law opens the door for future inclusion of assets like Ethereum or XRP if their market caps cross the threshold.
For fiscal years 2026–2027, New Hampshire’s public fund expenditure totals $16 billion. Under the new law, up to $800 million could be directed toward digital assets. The state’s treasury has yet to disclose how much it plans to allocate in the short term.
The Satoshi Action Fund’s policy framework establishes a framework to provide long-term fiscal flexibility backed by blockchain financial instruments. This development would allow New Hampshire to serve as a model for other states and could impact federal-level discussions, such as a national Bitcoin reserve.
