New Hampshire has become the latest U.S. state to advance a bill integrating Bitcoin into state reserves, reflecting a broader trend in digital finance.
Advancement of the Bill in New Hampshire
On Wednesday, the House Commerce and Consumer Affairs Committee in New Hampshire approved House Bill 302, which allows for up to 5% of public funds to be allocated to Bitcoin and precious metals. The bill now moves to the House floor for further consideration.
Federal Involvement
President Donald Trump has shown support for the crypto reserve movement by announcing plans for a U.S. Crypto Reserve centered around Bitcoin and Ethereum. The bill, introduced by Republican Rep. Keith Ammon, targets digital assets with a market cap of $500 billion or more.
Reactions from Other U.S. States
Following New Hampshire, other states like Utah, Texas, Arizona, and Oklahoma are making similar legislative advances. However, states like South Dakota, Montana, and Pennsylvania have rejected similar proposals, citing Bitcoin's volatility.
New Hampshire's Bitcoin reserve bill represents a significant move towards incorporating digital assets into public finance, despite differing views across states.
