New Hampshire Makes History with First-Ever State-Backed Bitcoin Reserve

446

New Hampshire has officially become the first U.S. state to establish a Strategic Bitcoin Reserve, marking a significant step in integrating digital assets into public finance. The news was confirmed by Dennis Porter, CEO of the Satoshi Action Fund, a nonprofit dedicated to promoting pro-Bitcoin legislation across the nation.

On Tuesday, the state’s Governor Kelly Ayotte signed HB 302 into law, laying the groundwork for a Bitcoin and Digital Assets Reserve Fund. The legislation was heavily inspired by the Satoshi Action Fund’s Strategic Bitcoin Reserve (SBR) model, now serving as a framework for other states.

“New Hampshire just rewrote financial history,” Porter commented. “HB 302 is a blueprint for modern treasuries — combining fiscal prudence with cutting-edge digital infrastructure.”

What Does the HB 302 Law Authorize?

Under the new law, the state treasurer is permitted to allocate up to 10% of New Hampshire’s general and authorized funds into precious metals and digital assets. However, the criteria limits investments to assets with a market cap exceeding $500 billion, effectively pointing to Bitcoin as the primary target.

The legislation allows for direct BTC investment, through spot-based exchange-traded products, or via self-custody with the treasury or a licensed custodian.

Legislative Milestone and State Support

HB 302 cleared the state House with a 192-179 vote, followed by a 4-1 approval in the Senate on April 23. The bill’s primary sponsor was Rep. Keith Ammon, a strong advocate for Bitcoin’s role in future-proofing government reserves.

“This isn’t just financial innovation,” said Ammon. “It’s about long-term security, reserve diversification, and protecting taxpayer value in an evolving economic landscape.”

Could More States Follow New Hampshire’s Lead?

Other states are already exploring similar paths. Arizona, Texas, Michigan, Maryland, and Illinois have all introduced or discussed Bitcoin-related reserve legislation. However, not all initiatives have moved forward — Florida recently shelved two such bills, leaving the door open but uncertain.

New Hampshire’s move could now serve as a precedent, potentially sparking a wave of digital asset policy shifts across the United States.