New Hampshire has taken a step towards investing in Bitcoin, approving House Bill 302, allowing the state to invest in digital assets and precious metals.
New Hampshire's Legislative Move
The House Commerce and Consumer Affairs Committee of New Hampshire passed House Bill 302 with a 16-1 vote. The bill permits the state treasurer to allocate up to 5% of public funds into Bitcoin, gold, silver, and platinum.
Criteria for Cryptocurrency Selection
The bill does not explicitly name a specific cryptocurrency but allows investments in digital assets with a market capitalization of at least $500 billion. Currently, Bitcoin, with its $1.8 trillion market cap, is the only cryptocurrency meeting this criterion. The second-largest digital asset, Ethereum (ETH), has a valuation of $276 billion.
Reactions to the Bill
This initiative emerges amid growing national support for Bitcoin reserves. Notably, U.S. President Donald Trump recently endorsed the concept of national crypto reserves. This move has prompted significant discussion among market analysts and experts.
New Hampshire's bill on potential investments in Bitcoin and precious metals is drawing considerable interest. It may serve as a catalyst for other states to adopt similar measures to integrate cryptocurrencies into state finances.
