New Hampshire First State to Approve Bitcoin Reserve Law

New Hampshire has made history by becoming the first state in America to approve a Strategic Bitcoin Reserve law. This groundbreaking legislation, signed by Governor Kelly Ayotte on May 6, authorizes the state treasurer to hold Bitcoin and other select digital assets in a regulated reserve structure. The law, known as HB 302, was introduced by Rep. Keith Ammon and supported by key figures such as Majority Leader Jason Osborne and the New Hampshire Blockchain Council.

The legislation allows the state treasurer to purchase Bitcoin and other digital assets with a market capitalization exceeding $500 billion, which currently includes only Bitcoin. The holdings are capped at 5% of the state’s reserve portfolio, and the assets must be secured through US-regulated custody arrangements. This ensures compliance and transparency, with the assets held in a state-controlled multi-signature scheme, a qualified custodian, or a US-based exchange-traded product.

Governor Ayotte celebrated the signing of the law on social media, stating, “New Hampshire is once again First in the Nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals.” The New Hampshire House Republicans also highlighted the state's leadership in digital assets, noting that “the Live Free or Die state is leading the way in forging the future of commerce and digital assets.”

Dennis Porter, CEO of Satoshi Action Fund, which developed the model policy, described HB 302 as a blueprint for national adoption. The organization has drafted more than 20 similar bills nationwide and has advocated for Bitcoin-based reserves to diversify treasury strategies. The Satoshi Action Fund has supported the passage of six pro-Bitcoin state laws to date and claims more than 220,000 constituent letters have been generated to support such initiatives nationwide.

With this approval, New Hampshire sets a precedent for other states considering similar legislation. According to Bitcoin Laws data, 37 of 50 states have introduced similar legislative proposals, but most have not yet been enacted. The remaining 13 states have yet to file legislation regarding state-level Bitcoin reserves. Arizona is the next best contender for a second Strategic Bitcoin Reserve bill, with its SB 1373 currently under review. North Carolina and Texas are also advancing their crypto reserves proposals, with both states presenting their proposals to the Senate committee for a second review.

By establishing a legal reserve policy and setting operational parameters, New Hampshire has introduced the first enforceable framework for holding Bitcoin in public treasury accounts in the US. This move positions New Hampshire as a test case for broader state-level Bitcoin adoption and could pave the way for other states to follow suit. The statute takes effect 60 days from enactment, marking a significant milestone in the integration of digital assets into state financial strategies.