On March 5, 2025, the New Hampshire House Commerce and Consumer Affairs Committee sailed through a bill approval like a ship on calm waters, creating a pathway for a potential Bitcoin reserve in the state. This bill, dubbed House Bill 302, was embraced with overwhelming support in a vote of 16-1, positioning it for a major decision on the House floor.
The Heart of the Bill
- Allocation Adventure: If enacted, the bill would empower New Hampshire’s treasurer to steer up to 5% of funds from various financial pools towards eligible assets. Originally suggesting a 10% limit, legislators dialed back to 5% before propelling the bill forward.
- Assets on the Journey: While not explicitly naming Bitcoin, the bill focuses on digital assets with a market capitalization of at least $500 billion over the past year. Currently, Bitcoin stands as the lone ranger meeting this requirement.
- Guardians of Security: Any digital asset holdings must be safeguarded by a reputable custodian or structured as an exchange-traded product, ensuring a safe and regulated investment environment.
- Precious Pathways: Additionally, the bill opens doors for investments in precious metals like gold, silver, and platinum, offering a diverse investment route for the state’s reserves.
The Background Tale and Champions of the Cause
House Bill 302 was penned by Republican Representative Keith Ammon on January 10, 2025, with Democratic allies Chris McAleer and Carry Spier. During the discussions, Ammon highlighted amendments excluding stablecoins and staking options, indicative of a cautious stance towards cryptocurrency ventures.
Excitement Among State Figures
New Hampshire’s Treasurer, Monica Mezzapelle, has shown keen interest in adopting the bill’s investment framework if it comes into effect, signaling solidarity from key state figures in exploring cryptocurrency within the state’s financial framework.
A Wider Horizon
New Hampshire dances in step with multiple U.S. states like North Carolina, Oklahoma, and Texas in advancing Bitcoin-linked laws. Utah and Arizona have already steered similar bills through the House stage, set against a national backdrop of crypto-policy debates, including a recent pitch by ex-U.S. President Donald Trump for a Crypto Strategic Reserve.
On the global canvas, countries such as El Salvador are broadening their Bitcoin portfolio, while others like Switzerland remain hesitant, citing concerns over Bitcoin’s volatility and security as deterrents to its inclusion in reserve assets.
Epilogue
The successful passage of House Bill 302 by the New Hampshire House committee paints a bold stroke towards integrating cryptocurrencies into state financial structures. As the bill gears up for a pivotal House vote, it mirrors a rising curiosity in exploring digital assets as a cornerstone of state reserve strategies across the United States.
Related sources:
[1] cryptonews.com
[3] www.advfn.com
[4] cedirates.com
[5] coinstats.app
