New Hampshire Leads The Way: First State To Establish Bitcoin Reserve

New Hampshire has made history as the first state in the United States to pass a Strategic Bitcoin Reserve bill.Governor Ayote signed the historic bill into law on Wednesday morning.New Hampshire has made history, becoming the first among 50 US states to enact Strategic Bitcoin Reserve legislation. Governor Kelly Ayote signed the historic bill into law on Wednesday morning.NH Becomes First State With Strategic Bitcoin ReverseThe bill was poised for something great after it passed the state’s Senate Ways and Means Committee last two weeks with four votes in support and just one opposing vote.According to Rep Keith Ammon, who was the primary sponsor of HB302, “Relative to Enabling the State Treasury to Invest in Precious Metals and Digital Assets,” the bill’s simplicity, use of analogies, and things people could easily associate with were key elements that contributed to its passage.“It is exciting to be early on the train ....I hope our state sets the precedent for other states to easily follow because states like to copy each other,” said Ammon.“It takes one state to go first...so, super excited,” he added.New Hampshire’s SBR bill is a straightforward one-page document outlining how the state Treasurer can invest a certain percentage of public funds in digital assets and precious metals. This split between two major investment categories was also another reason Ammon credited for the success of the bill. It brought together lawmakers on either side of the investment divide, igniting the bipartisan support required to pass the bill.“The state treasurer may invest a portion of public funds in precious metals and any digital assets with a market capitalization of over $500 billion averaged over the previous calendar year from the general fund, the revenue stabilization fund established in RSA 9:13-e, and any other funds as authorized by the legislature,” said the bill.It allocates no more than 5 percent of the total amount of public funds in any of the authorized investment options—precious metals (held as ETPs or in physical form) or digital assets. Multiple States To Follow NH’s Precedent Following New Hampshire’s enactment of the SBR legislation, Dennis Porter, the CEO of the Satoshi Action Fund, a Bitcoin advocacy non-profit, is confident that “the odds of multiple states passing Strategic Bitcoin Reserve legislation into law just went up by a massive amount.”Satoshi Action Fund has been instrumental in creating awareness about the benefits of Bitcoin among lawmakers and helping them craft pro-Bitcoin legislation. The organization’s Director of Development, Tom McCarty, testified in support of the New Hampshire SBR bill during the Committee stage back in January.The Act becomes effective 60 days after its passage, which sets its implementation around July 2025. So far, Arizona and North Carolina are the only states whose SBR bills have advanced past the first legislative chamber.The post New Hampshire Leads The Way: First State To Establish Bitcoin Reserve appeared first on Blockzeit.