New Hampshire First State to Pass BTC Reserve Bill
Meanwhile, 36 crypto reserve bills battle across America's statehouses at different stages
The "Live Free or Die" state became the first in the nation to establish a "Strategic Bitcoin Reserve" on May 6, when Governor Kelly Ayotte signed HB 302 into law.
The bill passed the state's House (192-179) and sailed through the Senate (4-1).
"If the federal government managed the dollar better, we wouldn't need to be considering these things, but inflation is eating our lunch. And this is one little way our state could hedge against inflation in the future," explained Rep. Keith Ammon, the bill's primary sponsor.
The New Hampshire state’s treasury holds about $3 billion at the close of 2024, per the unaudited 2024 report. If the treasurer decides to allocate 5%, or approximately $181 million, into Bitcoin, the state could secure roughly 1,194 BTC at present prices.
The legislation requires any digital asset investments to have a market capitalization exceeding $500 billion, limiting options to Bitcoin alone.
The race to be second
While New Hampshire celebrates, other state legislatures are rushing to catch up.
The BitcoinLaws tracker shows 36 similar Bitcoin reserve bills remain active across 19 states, down from 45 bills in 24+ states earlier this year.
Many have already fallen
Florida withdrew two bills (HB 487, SB 550) on May 3 as their legislative session closed
Arizona's SB 1025 cleared both legislative chambers but was vetoed by Governor Katie Hobbs on May 2.
Bills in Oklahoma, South Dakota, and Montana failed in committee or floor votes
New Hampshire’s move reflects a growing national shift toward institutionalising Bitcoin.
In March, US President Donald Trump announced the establishment of a Strategic Bitcoin Reserve through executive order. Meanwhile, Senator Cynthia Lummis's BITCOIN Act, which calls for the US government to hold over 1 million BTC, is currently pending review in the Senate Banking Committee.
Behind New Hampshire's legislative success stands the Satoshi Action Fund, a pro-Bitcoin nonprofit led by Dennis Porter, which drafted the model for the state’s HB 302 and continues supporting similar legislation nationwide.
The US government entity has formally declared Bitcoin worthy of sitting alongside traditional reserve assets.