New Hampshire Governor Kelly Ayotte has signed a law allowing the state treasurer to invest in cryptocurrencies, including Bitcoin. House Bill 302, passed by the state legislature, permits investments in crypto assets with a market cap over $500 billion. This positions New Hampshire as a leader among states exploring strategic Bitcoin reserves, amidst recent failed legislative attempts in Arizona. Further updates are anticipated as developments unfold.
Kelly Ayotte, the Governor of New Hampshire, has officially signed a bill that enables the state treasurer to invest in cryptocurrencies, including the widely known Bitcoin (BTC). This legislative step was announced through a social media post on May 6, indicating a significant shift towards embracing digital assets in state finances.
The legislation, identified as House Bill 302, was introduced back in January and received the green light from both the state Senate and House of Representatives. It notably allows the state’s treasury to invest in cryptocurrencies that boast a market capitalisation exceeding $500 billion, effectively excluding a number of smaller tokens and even meme-based coins. This move positions New Hampshire as a pioneer among US states contemplating a strategic investment approach in cryptocurrency.
With this new law in place, New Hampshire has taken the lead, being the first state to enable such investment plans. Other states are also considering similar legislative measures to establish Bitcoin reserves, indicating a growing trend in cryptocurrency adoption. In fact, an attempt in Arizona to enact a comparable bill was snuffed out when Governor Katie Hobbs vetoed it just days ago on May 2, after it had successfully passed the state’s House.
As this is still a developing story, more information will be shared as it emerges. The implications of such legislation might be far-reaching, not just for New Hampshire, but for possible future actions from other state governments as well.
