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Highlights
- New Hampshire bill proposes holding Bitcoin and precious metals in state reserves for financial diversification.
- State treasury could invest in Bitcoin using secure custody solutions, joining Texas and Ohio in crypto adoption.
- Rising interest in BTC as a reserve asset reflects global trends, with Bhutan and Brazil exploring similar strategies.
A new bill introduced by New Hampshire Representative Keith Ammon could authorize the state treasury to hold Bitcoin and precious metals as reserve assets. The proposed legislation would permit the state to store Bitcoin alongside traditional assets such as gold, silver, and platinum, making New Hampshire one of the first U.S. states to formally consider such a move.
Hampshire Bill Proposes Investment in BTC and Gold
The bill presented by Republican lawmaker Keith Ammon explains the plans to build a “strategic reserve” for the state with both physical and digital currencies. The bill aims at making it possible for New Hampshire’s treasury to invest in Bitcoin and precious metals for its reserves.
Consequently, this represents a paradigm shift in the manner that states handle their financial assets as cryptocurrencies continue to gain acceptance.
The bill also provides for how the digital assets will be secured as seen in the “secure custody solutions”. This would mean that the state would have to work with so called “qualified custodians” in order to avoid possible risks connected with storage of digital assets. The legislation seeks to address security and legal issues that are important especially given that more states are turning to cryptocurrencies like El Salvador BTC buying strategy.
Rising Interest in Bitcoin Reserves Across States
New Hampshire’s proposal follows similar steps taken by other states, such as Texas, Ohio, and Pennsylvania. The idea toward using Bitcoin as a reserve has become more popular in the last one year as more people are embracing cryptocurrencies and the use of decentralized finance.
Incoming US president Donald Trump has also contributed to the discussion recently during his campaign where he pledged that United States would become the leader of cryptocurrency. The Trump administration had previously stated that the federal government owns 207,000 Bitcoin and this gave steam to other state-level initiatives like the one in New Hampshire.
Dennis Porter, CEO of the Satoshi Action Fund, confirmed the bill’s introduction in a statement posted on the X . According to Porter, the bill seeks to position New Hampshire as a forward-thinking state by embracing digital assets and ensuring their safe storage.
Global Interest in BTC as a Reserve Asset
The idea of using Bitcoin as part of government reserves is not limited to the United States. Countries such as Brazil and Poland have also begun exploring this concept, with some nations taking steps to include cryptocurrencies in their national treasuries.
Notably, Bhutan recently announced its plans to expand crypto adoption in its Gelephu Mindfulness City (GMC) initiative. Bhutan’s decision to hold Bitcoin, Ethereum, and Binance Coin in its reserves highlights the growing global acceptance of digital assets. Binance Co-Founder Changpeng Zhao remarked that this approach reflects a willingness to diversify reserves beyond Bitcoin alone.
Should the bill be approved, New Hampshire may become a pioneer in the implementation of the cryptocurrency into the public sector financial systems. However, the bill could be opposed by politicians who remain skeptical of the digital assets’ price fluctuations and the safety of storage solutions.
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