tl;dr
New Hampshire's House Commerce and Consumer Affairs Committee passed House Bill 302, allowing the state treasurer to allocate up to 5% of public funds into Bitcoin and precious metals. President Trump has expressed support for a U.S. Crypto Reserve with Bitcoin and Ethereum. Similar Bitcoin reserve ...
New Hampshire's House Commerce and Consumer Affairs Committee has passed House Bill 302, allowing the state treasurer to allocate up to 5% of public funds into Bitcoin and other precious metals. This bill was sponsored by Republican Rep. Keith Ammon and co-sponsored by Democrats Chris McAleer and Carry Spier. It follows a broader trend of Bitcoin reserve legislation in states such as Utah, Texas, Arizona, and Oklahoma.
President Donald Trump has expressed support for the creation of a U.S. Crypto Reserve with Bitcoin and Ethereum as central assets. Similar Bitcoin reserve bills are gaining momentum in states such as Utah, Texas, Arizona, and Oklahoma, while others like South Dakota, Montana, Pennsylvania, North Dakota, and Wyoming have rejected such proposals due to concerns about Bitcoin's volatility.
New Hampshire has become the latest U.S. state to push forward a Bitcoin reserve bill, joining the growing trend of integrating the digital asset into state finances. On Wednesday, the state’s House Commerce and Consumer Affairs Committee passed House Bill 302 by a resounding 16-1 vote. The bill, which would allow the state treasurer to allocate up to 5% of public funds into Bitcoin alongside precious metals like gold, silver, and platinum, now moves to the House floor for consideration.
On the national stage, President Donald Trump has thrown his weight behind the Bitcoin reserve movement. On Sunday, he announced his plan to create a U.S. Crypto Reserve with Bitcoin and Ethereum “at the heart” of it. Introduced by Republican Rep. Keith Ammon, with co-sponsorship from Democrats Chris McAleer and Carry Spier, HB 302 does not explicitly name Bitcoin but notes how digital assets with a market capitalization of at least $500 billion would be eligible. Given Bitcoin’s current market capitalization of $1.8 trillion, it is the only asset that qualifies under these criteria.
New Hampshire’s move follows a broader trend of Bitcoin reserve legislation in states such as Utah, Texas, Arizona, and Oklahoma, where similar bills have gained momentum. Utah has made progress with its Blockchain and Digital Innovation Amendments bill, which proposes up to 5% of state funds to be allocated to digital assets, with Bitcoin as the primary candidate, as it follows similar criteria as New Hampshire. Texas is advancing two Bitcoin-related bills—one for investing 1% of general revenue funds and another for handling Bitcoin donations and payments. Oklahoma’s House Government Oversight Committee passed HB 1203, the Strategic Bitcoin Reserve Act, by a 12-2 vote. Meanwhile, Arizona has already advanced its Bitcoin reserve bill, SB 1025, through the Senate Finance Committee.
Even so, not all states are on board. South Dakota, Montana, Pennsylvania, North Dakota, and Wyoming have rejected similar proposals due to concerns about Bitcoin’s volatility and its suitability as a public asset.