Bitcoin Becomes US State Treasury Reserve Asset in New Hampshire

In a groundbreaking move, New Hampshire has become the first state in the United States to officially include Bitcoin in its treasury reserves.

In a groundbreaking move, New Hampshire has become the first state in the United States to officially include Bitcoin in its treasury reserves. On May 6, 2025, Governor Kelly Ayotte enacted House Bill 302 (HB 302), which established the Strategic Bitcoin and Digital Asset Reserve. This inclusion marks a fundamental shift in state government financial management practices as they move into digital fiscal operations.

As reported by Law IV, HB 302 grants the state treasury the authority to invest total state funds by up to 5% into selected digital assets. The fundamental limitation in this program is clear. The state treasury can only invest in assets that exceed a market capitalization threshold of $500 billion. Bitcoin remains the single cryptocurrency available within this market threshold and thus draws the law’s primary focus.

“New Hampshire returns as the nation’s first state with this new law and I am proud to finalize this bill which provides our state with the ability to invest in cryptocurrencies alongside precious metals,” Governor Ayotte announced via social media.

This new legislation begins its implementation process sixty days post-signature. The state treasury will utilize this period to construct both legal and technological systems that enable digital asset acquisition and protection. The digital assets must be stored at U.S.-regulated storage facilities while under the protection of rigorous security measures. The state government has two options: establishing state-managed multisignature wallets or partnering with regulated custodian services or approved exchange-traded products.

The legislators who drafted HB 302 drew inspiration from model policy provisions developed by Satoshi Action for spreading Bitcoin-friendly legislation throughout the United States.

“The legislators chose to not only endorse the bill but also to move it forward. Now, the administration can begin the process of setting up systems to buy, hold and use bitcoin in a decentralized manner,” said Dennis Porter, who leads Satoshi Action. According to Porter, the law demonstrates that governments can handle taxpayer funds securely while diversifying investments and advancing public finance structures through Bitcoin’s value stability.

Key figures instrumental in making this law a reality include longtime Bitcoin supporter Representative Keith Ammon, who introduced the model bill to lawmakers in 2022. Republican Party leader Jason Osborne aided the successful progress of the bill through legislative channels, and New Hampshire Blockchain Council member Ian Huyett conducted grassroots activism. The state’s first laws of this kind received approval from Governor Ayotte after she made history as the first executive to support such legislation.

The new process diverges from what federal administrations attempt to do. Under the previous Trump administration, Bitcoin was discussed for a national reserve, yet their proposal focused on managing existing government-held Bitcoin rather than acquiring additional ones. Unlike similar measures, HB 302 distributes specific designated funds to purchase Bitcoin.

According to the bill’s supporters, state Bitcoin reserves protect government funds from inflation and financial system instability, and economic volatility. Many states across the nation will likely follow New Hampshire’s pioneering decision through new policies that support Bitcoin investments.

For now, New Hampshire operates by itself with its digital asset reserve but its governing action could set the stage for numerous states to establish their own digital reserve funds across America. As stated in HB 302, “This State may not invest in any digital asset that is not included on the Top 5 market capitalization list.” As of May 2025, only one cryptocurrency, Bitcoin, features among the top 5 cryptocurrencies by market capitalization. This factor makes HB 302 an initiative focused largely on Bitcoin.