Lawyers say that it’s ‘possible’ for a strategic XRP reserve to be included in the New Hampshire Digital Asset law, which was recently passed. However, there’s still one condition that the token needs to meet.
Recently, HB 302 Bill was passed by New Hampshire, granting the State Treasurer the authority to invest in cryptocurrencies. Among the criteria for selection are tokens with a market cap exceeding $500 billion—a benchmark currently met only by Bitcoin.
Highlighting this point in his X post, legal expert Fred Rispoli noted, “According to this law that was passed, if XRP hits a $500B market cap this year then it is also eligible for the NH digital asset strategic reserve in 2026!”
HB302 was passed by the NH legislature and the governor has now signed it. This law authorizes the state treasurer to invest in cryptocurrencies. Among the criteria for selection are tokens with a market cap greater than $500B. Currently, only BTC meets this requirement. However, if XRP reaches a $500B market cap this year then it is also eligible for the NH digital asset strategic reserve in 2026!
— Fred Rispoli (@FredRispoli) May 12, 2024
- Fred Rispoli (@fredrispoli) May 12, 2024
According to Rispoli’s post, XRP could be adopted as a Strategic Reserve in New Hampshire if the token’s market cap surpasses $500 billion. Currently ranked 4th with a market cap of $125.25 billion, this milestone seems ambitious. However, the coin’s surging demand and adoption suggest it's not entirely unattainable.
In another development, legal expert at Black Swan Capitalist proposed the idea of introducing XRP-backed government bonds. Aiming to modernize sovereign debt markets with blockchain technology for increased efficiency and transparency, the proposal suggests the US government could issue debt instruments denominated in Ripple’s coin. These bonds would offer investors a fixed yield and be redeemed at maturity.
This increased use case, along with the growing institutional adoption of the Ripple token, significantly bolsters Fred Rispoli’s prediction. The speculation is further intensified by emerging reports that US banks are exploring XRP adoption.
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