New Hampshire has officially passed a law that gives its Treasurer the option to invest public funds into Bitcoin. The bill, known as HB 302, was signed into law by Governor Kelly Ayotte on May 6, making New Hampshire the first state in the U.S. to create a legal path for holding Bitcoin as a strategic reserve.
The law allows up to 5% of the state’s available funds to be invested in Bitcoin or any other digital asset with a market cap over $500 billion. Right now, that basically means Bitcoin is the only real candidate. The funds can also be used to buy precious metals, but Bitcoin is clearly the headline here.
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What This Really Means
Just because the law passed doesn’t mean the state is buying Bitcoin tomorrow. The law only gives permission. It’s now up to the Treasurer to decide if, how, and when to actually make the investment. So far, no purchases have been confirmed.
The assets must be stored securely, either through a state-controlled wallet or a qualified US-regulated custodian. There are also rules around using regulated investment products like exchange-traded funds. These safeguards were built into the law to avoid unnecessary risk, and to keep the process transparent and secure.
A First Step – Not a Guarantee
New Hampshire is the first state to pass this kind of law and get it signed. Other states, including Arizona and Florida, attempted similar legislation but were unsuccessful. The law provides a legal framework and sets clear limits, including a 5% cap and strict custody requirements. It does not require the Treasurer to invest in Bitcoin – it only authorizes the possibility.
Other states might watch how this plays out. If it works smoothly – or even makes a profit – we could see more of these bills showing up in the coming months.
