tl;dr
New Hampshire has become the first US state to enact a Strategic Bitcoin Reserve law, allowing its state treasurer to allocate up to 5% of the state's reserve portfolio to Bitcoin and other large digital assets. Signed into law by Governor Kelly Ayotte on May 6, HB 302 authorizes regulated custody o...
New Hampshire has become the pioneer US state to legally establish a Strategic Bitcoin Reserve, permitting up to 5% of its state funds to be invested in Bitcoin and other large digital assets under regulated custody.
Governor Kelly Ayotte signed HB 302 into law on May 6, empowering the state treasurer to allocate a portion of the state’s reserve portfolio to Bitcoin, held securely via multi-signature schemes, qualified custodians, or US-based exchange-traded products.
This legislation, created with the support of the Satoshi Action Fund and introduced by Rep. Keith Ammon, positions Bitcoin as a formal financial reserve asset for the state. It restricts holdings to assets with a market cap over $500 billion—currently only Bitcoin—and caps reserve exposure at 5%.
New Hampshire’s move sets a groundbreaking model, with the law taking effect 60 days post-enactment. The state’s leadership highlights this innovation as a leap forward in commerce and digital asset adoption.
The passage of HB 302 marks a milestone amid a growing national trend; 37 states have introduced similar bills, though none have yet passed except New Hampshire. Arizona, North Carolina, and Texas are actively pursuing related legislations.
By establishing clear custody standards and operational frameworks, New Hampshire offers a blueprint for other states aiming to incorporate Bitcoin into public treasury strategies, signaling a transformative shift in how state funds can engage with the evolving digital asset economy.