New Hampshire Becomes First to Approve Bitcoin Reserve—Will Other States Follow?

New Hampshire is on the verge to have the first strategic Bitcoin reserve of a U.S. state to be created, after House Bill 302 (HB 302) passes and the state treasurer is authorized to invest up to 5% in Bitcoin or other high value digital assets.

Dennis Porter, CEO of the Satoshi Action Fund, formally announced the landmark legislation Tuesday. It’s a bold move in what initial public funds can be managed, putting the Granite State on the map as the first state to adopt crypto at the state level.

STRATEGIC BITCOIN RESERVE IS LAW! pic.twitter.com/30zXx9srfJ

— Dennis Porter (@Dennis_Porter_) May 6, 2025

New Hampshire’s Bitcoin Reserve Sparks Nationwide Movement

First introduced in January, HB 302, gives officials the ability to allocate state funds to both precious metals, and specific digital assets with a market capitalization of over $500 billion. That means Bitcoin, which, as of this writing, has a market cap of roughly $1.9 trillion per TradingView, is a prime candidate.

The newly enacted law states that any digital assets obtained must be kept using high security custody protocols. This can be done directly in a state managed multisignature wallet, via a qualified financial institution custody, or by investment in U.S. regulated exchange traded products (ETPs). Dennis Porter, CEO and Co-Founder of Satoshi Action, said:

“Satoshi Action drafted the model, New Hampshire engraved it into law, and now every treasurer nationwide can follow that roadmap. HB 302 proves you can protect taxpayer money, diversify reserves, and future-proof state treasuries all while embracing the most secure monetary network on Earth. New Hampshire didn’t just pass a bill; it sparked a movement.”

Bitcoin Legislation Gains Momentum in States

The bill, spearheaded by long time Bitcoin proponent Keith Ammon, a recipient of the Satoshi Action Fund “Lawmaker of the Year” award, alongside House Majority Leader Jason Osborne. Together, their work guided the bill through legislative process to become law.

After official passage, HB 302 will officially take effect within 60 days, giving the state time to build the infrastructure for digital asset acquisition and custody.

New Hampshire is moving on while other states are still fighting legislative obstacles. Just last week, Arizona’s attempt to pass a similar measure was stopped short when Governor Katie Hobbs vetoed Senate Bill 1025, which would have allowed Arizona to invest up to 10% of state treasury and pension funds in digital assets.

Florida Withdraws Its Bitcoin Reserve Bills

Florida also did not manage to pass its own Bitcoin reserve initiative. During the state’s legislative session that ended May 2, House Bill 487 and Senate Bill 550, which would create a state level Bitcoin reserve, were both withdrawn from consideration.

New Hampshire’s action could spur other states interested in incorporating digital assets into their public finance strategies. With interest in institutional Bitcoin adoption growing, Granite State’s pioneering stance may be an example to follow for lawmakers nationwide.

Conclusion

New Hampshire becomes first state to establish Bitcoin reserve, a bold cryptographic move well worth celebrating. Yet other states continue to battle toward their own such legislation, and the Granite State’s clearcut action may signal a reversal in public finance, and development of digital assets into a serious piece of government treasury strategy.

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FAQs

Q1: What is HB 302? 

 A: It’s a law allowing New Hampshire to invest up to 5% of public funds in Bitcoin and other major digital assets.

Q2: How will the Bitcoin be stored?

 A: Through secure methods like multisig wallets, qualified custodians, or U.S.-regulated ETPs.

Q3: When does the law take effect?

A: It takes effect 60 days after passage.

Q4: Are other states doing this too? 

A: Arizona and Florida tried, but their bills failed. New Hampshire is first to succeed.

Glossary Of Key Terms

1. HB 302
   New Hampshire law allowing up to 5% of state funds in Bitcoin and digital assets.
2. Bitcoin Reserve
   State-held Bitcoin used to diversify and secure public funds.
3. Multisig Wallet
   A crypto wallet needing multiple approvals to access funds.
4. ETP (Exchange-Traded Product)
   A regulated investment tracking assets like Bitcoin.
5. Market Cap
   Total value of a cryptocurrency in circulation.
6. Qualified Custodian
   Authorized institution to securely store digital assets.

Reference

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