New Hampshire Ignites Bitcoin Revolution by Becoming the First US State to Greenlight Strategic BTC Investments

The U.S. state of New Hampshire has become the first in the nation to authorize the creation of a strategic bitcoin reserve, following the enactment of House Bill 302 into law.

The U.S. state of New Hampshire has become the first in the nation to authorize the creation of a strategic bitcoin reserve.

House Bill 302, which was signed into law by Governor Kelly Ayotte (R) on May 6, will allow the state to invest some of its treasury funds in bitcoin and other high-cap digital assets. It also includes provisions to ensure the safe custody of such assets and limits digital asset exposure to 5% of total state funds.

The initiative is based on a policy model developed by the nonprofit Satoshi Action Fund and is part of an effort to protect taxpayer money, diversify the state’s reserves, and modernize its fiscal strategy.

Governor Ayotte announced the signing on social media platform X, where she said: "New Hampshire is once again 1st in the nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals."

NH Becomes 1st State to Authorise Strategic Bitcoin Reserve

The bill authorizes the state treasurer to acquire bitcoin and other digital assets with market capitalizations exceeding $500 billion, which currently includes only bitcoin.

According to Satoshi Action CEO Dennis Porter, the nonprofit group drafted the model legislation that state lawmakers used to introduce and pass HB 302.

“Satoshi Action penned the blueprint, New Hampshire carved it into law, and now every treasurer throughout the nation can follow that roadmap to open the door to bitcoin in their state,” Porter said.

“HB 302 proves you can protect taxpayer money, diversify reserves and future-proof state treasuries—all while engaging the most secure monetary network on Earth. New Hampshire didn’t just pass a bill; they sparked a movement.”

Support for the law was also voiced by the New Hampshire House Republicans, who said in a post on X: “Great news! New Hampshire is the 1st state to lay the groundwork for a strategic bitcoin reserve. The Live Free or Die state is leading the way in forging the future of commerce and digital assets.”

The new law will take effect in 60 days.

A Growing Trend

A few other U.S. states have proposed legislation to allow investing in bitcoin. However, most of these efforts have stalled or been withdrawn.

Last week, Arizona Governor Katie Hobbs (D) vetoed a bill that would have authorized the state to invest up to 1% of its treasury funds in bitcoin.

In her veto message, Hobbs said that she shares the interest in exploring new investment opportunities for the state. However, she stated that she ultimately reached the conclusion that investing in bitcoin at this time would be "unsuitable" for several reasons.

“Despite the enthusiasm of some of its proponents, bitcoin remains a highly volatile asset class, and there is no consensus among economists about the macroeconomic impact of such investments,” she wrote.

“Moreover, as a new asset class, the long-term implications of bitcoin investments are not yet fully understood, and there are outstanding questions about the best practices for asset custody and risk management in this domain.”

Earlier this year, a bill that would have allowed West Virginia to invest in bitcoin was tabled by lawmakers. And in March, a bill that would have created a bitcoin taskforce in Florida was shelved.