New Hampshire has made significant progress by legalizing investments in digital assets with the signing of bill HB 302 by the state governor.
Signing of Bill HB 302
On May 6, the Governor of New Hampshire signed bill HB 302, which allows the state to invest in digital assets and precious metals. The governor announced that New Hampshire is once again the first in the nation.
Investments in Digital Assets and Precious Metals
The bill permits the New Hampshire state treasurer to invest up to 5% of public funds in assets such as gold, silver, and cryptocurrencies with a minimum market capitalization of $500 billion. Currently, Bitcoin is the only digital asset meeting these criteria.
The Role of Bitcoin in Investment Strategy
According to state representative Keith Ammon, the need for investments in such assets has increased, partly due to poor management of the dollar by the federal government. He claims that this could be a way for the state to hedge against inflation. As of last year, New Hampshire's treasury held over $3.62 billion; 5% of this amount is $181 million, which could potentially allow for the purchase of 1,194 BTC.
Bill HB 302 positions New Hampshire as a pioneer in the field of digital asset investments in the United States, while many other states continue to develop their approaches to this issue.
