New Hampshire Authorizes Bitcoin Reserve to Safeguard State Funds
In a bid to counter inflation, New Hampshire will allow its treasury to invest part of the state’s reserves in Bitcoin and precious metals—setting a precedent in government asset diversification.
Governor Kelly Ayotte of New Hampshire has enacted House Bill 302, permitting the state treasury to invest up to 5% of unencumbered budgetary capital into digital assets and precious metals.
This legislation positions New Hampshire as the first state in the U.S. to form a government-level cryptocurrency reserve. Under the statute, eligible digital assets must exceed a $500 billion market cap, effectively limiting holdings to Bitcoin at this time. The bill also expands authorized investment classes to include traditional stores of value like gold.
According to Representative Keith Ammon, HB 302 serves dual purposes: expanding the state’s investment horizons and insulating public finances from inflationary pressures tied to large-scale fiat issuance. The statute emphasizes transparency through mandatory audits, consistent public reporting, and reliance on proven custodial infrastructure.
We're incredibly excited about the win that has occurred in New Hampshire. The first one's the hardest, by far. Having a state that's already gotten it done, it'll really increase the political momentum,
commented Dennis Porter, founder of the Satoshi Action Fund, which champions Bitcoin-forward policy across the United States.
Though New Hampshire has moved ahead, other states are pulling back. Arizona’s Governor Katie Hobbs vetoed a House-approved reserve bill, and Florida withdrew two comparable efforts without clarification—highlighting lingering political friction around digital asset adoption.
That said, North Carolina is still being viewed as a possible next mover, with influential lawmakers continuing to explore reserve models involving digital assets. Against that backdrop, HB 302’s enactment is widely seen by crypto proponents as a key development in advancing broader adoption at the state level.
Check this out: The State of Crypto Regulation in 2025: Where the World Stands
This push aligns with growing momentum in Washington. President Trump signed an executive order in March to launch a strategic Bitcoin reserve. Meanwhile, Senator Cynthia Lummis proposed the BITCOIN Act—legislation that would formalize a federal fund sourced from seized BTC, signaling deeper institutional interest in Bitcoin as a treasury asset.
The enactment of HB 302 sets a new precedent in public asset management, highlighting a state-level appetite for diversification through alternative investments. The success—or failure—of these early moves will be crucial in shaping broader adoption across both state lines and the federal level.
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