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New Hampshire has made history by becoming the first US state to create a strategic Bitcoin reserve following the passage of House Bill 302. The new law allows the state treasurer to invest up to 5 percent of public funds in Bitcoin and other digital assets with a market cap above 500 billion dollars. These assets will be securely held in multisign wallets under state control or through trusted US-based custodians and exchange-traded products.
Dennis Porter CEO of Satoshi Action Fund announced the news on May 7 celebrating the bill as a major milestone for Bitcoin adoption. He praised New Hampshire for turning their model into law and creating a blueprint that other states can follow. According to Porter this proves that states can diversify reserves protect taxpayer money and embrace the power of decentralized technology.
The bill was driven by Representative Keith Ammon and Majority Leader Jason Osborne both strong supporters of Bitcoin. The law takes effect 60 days after passage marking a bold step into the future of finance.
