New Hampshire Makes History, Becoming the First US State to Enact Strategic Bitcoin Reserve Legislation

New Hampshire has become the first US state to enact Strategic Bitcoin Reserve legislation, with Governor Kelly Ayote signing the historic bill on Wednesday morning.

The bill, which was poised for something great after it passed the state’s Senate Ways and Means Committee last two weeks with four votes in support and just one opposing vote, is a simple one-page document that grants the state Treasurer the ability to invest a certain percentage of public funds in digital assets and precious metals.

This split between two major investment categories was also another reason Ammon credited for the success of the bill. It brought together lawmakers on either side of the investment divide, igniting the bipartisan support required to pass the bill.

"The state treasurer may invest a portion of public funds in precious metals and any digital assets with a market capitalization of over $500 billion averaged over the previous calendar year from the general fund, the revenue stabilization fund established in RSA 9:13-e, and any other funds as authorized by the legislature.," the bill reads.

It allocates no more than 5 percent of the total amount of public funds in any of the authorized investment options- precious metals (held as ETPs or in physical form) or digital assets.

The bill, which was sponsored by Rep Keith Ammon, is formally known as HB302, Relative to Enabling the State Treasury to Invest in Precious Metals and Digital Assets. According to Ammon, the bill’s simplicity, use of analogies, and things people could easily associate with were key elements that contributed to its passage.

"It is exciting to be early on the train ….I hope our state sets the precedent for other states to easily follow because states like to copy each other. It takes one state to go first…so, super excited," he said.

The bill's passage is a significant development in the growing movement to introduce Bitcoin into the mainstream financial system. As the US faces pressing economic issues, lawmakers are increasingly exploring alternative investment strategies.

"The odds of multiple state passing Strategic Bitcoin Reserve legislation into law just went up massively. Huge win for the people of NH and huge moment in the Sound Money movement. Many thanks to the legislators who worked hard to make this happen and to the organizations who helped mobilize support. This is groundbreaking and hopefully, it sparks a wave of similar legislation across the country, " said Dennis Porter, CEO of the Satoshi Action Fund.

Satoshi Action Fund has been instrumental in engaging lawmakers and facilitating the creation of pro-Bitcoin legislation. The organization's Director of Development, Tom McCarty, testified in support of the New Hampshire SBR bill during the Committee stage back in January.

The Act becomes effective 60 days after its passage, which sets its implementation around July 2025. So far, Arizona and North Carolina are the only states whose SBR bills have advanced past the first legislative chamber.