New Hampshire's Bitcoin Reserve Bill has been approved by the committee and set for a full House vote.
Committee Vote Outcome
On March 5, the New Hampshire House Commerce and Consumer Affairs Committee approved the Bitcoin Reserve Bill with a 16-1 vote. This step moves the bill forward for a full House vote.
Bill Contents
If passed, the bill would allow New Hampshire's treasurer to invest up to 5% from the general fund, revenue stabilization fund, or other legislatively authorized funds into Bitcoin. While Bitcoin is not explicitly named in the bill, the criteria set for digital assets require a market cap average of $500 billion over the last year, a condition currently met only by Bitcoin. The bill also permits investment in precious metals like gold, silver, and platinum.
Context and Next Steps
The bill was introduced by Republican Keith Ammon with co-sponsorship from several Democrats. New Hampshire's Treasurer has shown interest in the potential investments outlined in the bill. The bill now awaits a full House vote. New Hampshire is among several states advancing similar strategic Bitcoin reserve bills, with states like North Carolina and Texas already on this path.
Progress in Bitcoin regulation at the state level is advancing, with New Hampshire playing a pivotal role following committee approval.
