Bitcoin Enters State Reserves? New Hampshire’s Bold Move Sparks Debate

In a razor-thin vote that could ripple across state legislatures nationwide, New Hampshire just nudged Bitcoin one step closer to becoming a state-backed asset.

On April 10, the state’s House passed House Bill 302 in a narrow 192-179 decision—clearing the path for the Granite State to potentially allocate up to 10% of certain public funds into Bitcoin and other high-value assets like gold and silver.

With this move, New Hampshire becomes the fourth state—after Arizona, Texas, and Oklahoma—to see a Bitcoin reserve bill make it through one legislative chamber. But the journey’s far from over. The bill now advances to the Senate, where it’s expected to face tougher scrutiny before potentially heading to Governor Kelly Ayotte’s desk.

What’s in the Bill?

HB302 proposes authorizing the state treasurer to invest up to 10% of the state’s general fund, revenue stabilization fund, or other legislatively approved funds in select digital assets and precious metals.

The bill comes with a major qualifier: to be eligible, a digital asset must have maintained an average market cap of at least $500 billion over the previous year. Right now, that’s a club of one—Bitcoin.

That specificity ensures the bill doesn’t open the floodgates to speculative or obscure cryptocurrencies. It’s Bitcoin or bust.

During heated floor debates, supporters emphasized the long-term financial upside and the appeal of diversifying public reserves. Republican Rep. Jordan Ulery backed the bill as a gateway to “a large amount of money being earned by the state” through Bitcoin’s growth potential.

A Bigger Picture: States Betting on Bitcoin

New Hampshire’s move isn’t happening in isolation. According to Bitcoin Laws, at least 47 strategic Bitcoin reserve bills have been introduced across 26 U.S. states.

On the very same day as New Hampshire’s vote, Florida’s House Insurance and Banking Subcommittee unanimously advanced its own Bitcoin reserve bill (HB487). That proposal gives the state’s Chief Financial Officer the authority to invest up to 10% of specific public funds in Bitcoin.

Meanwhile, Arizona is leading the pack, with two Bitcoin reserve bills making notable headway.

New Hampshire is also reviewing two other crypto-focused bills:

• HB310, which explores stablecoins and tokenized real-world assets
  
• HB639, a broader framework for blockchain regulation and dispute resolution
  

Together, they point to a state actively exploring the full spectrum of blockchain legislation.

What Happens Next?

For now, all eyes turn to the New Hampshire Senate, where HB302 will face its next challenge. The close vote in the House suggests the path ahead won’t be easy, but the signal is loud and clear: Bitcoin is entering serious policy conversations at the state level.

Whether this ends in law or stalls in debate, one thing is certain—the crypto conversation is no longer hypothetical. State governments are making moves.

And New Hampshire may soon be the first to put Bitcoin on the books—literally.

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