New Hampshire Bitcoin Bill Advances to Full House Vote

Highlights:

• New Hampshire is moving closer to passing its Bitcoin bill after it passed a key House committee vote.
• Several states are supporting the bills, which are in different stages of evaluation.
• The bill will move to a full House vote after strong support from a key committee.

The New Hampshire House Commerce and Consumer Affairs Committee has approved a bill that will allow the state to invest public funds in virtual assets and precious metals. The committee passed House Bill 302 with a 16-1 vote, and the bill now moves to the House floor for a full vote. If the bill passes, it will allow the state treasurer to allocate up to 5% of public funds into Bitcoin and precious metals.

NEW HAMPSHIRE Update:

Bitcoin Reserve Bill HB302 has passed the House Commerce and Consumer Affairs Committee.

The vote was 16 – 1 pic.twitter.com/7DpzFzxgda

— Bitcoin Laws (@Bitcoin_Laws) March 6, 2025

While the bill does not mention Bitcoin directly, the bill states that eligible digital assets must have a market capitalization of $500 billion. Currently, the only asset meeting this requirement is Bitcoin. Digital digital assets must be held by a qualified custodian or be in an exchange-traded product. The bill initially suggested that 10% of the funds be allocated but later changed it to 5%.

The bill was introduced by Republican Representative Keith Ammon on January 10, with Democratic lawmakers Chris McAleer and Cari Spier as co-sponsors. Notably, the progress of the bill is part of an evolving trend of states categorizing Bitcoin as a component of their financial policies.

Growing Trend of State-Level Bitcoin Reserve Legislation

Similar Bitcoin reserve bills are in different stages in other states. The bills in Texas, Oklahoma, and North Carolina are awaiting the final vote. Utah and Arizona have already passed it in the House.

Despite the excitement surrounding the bills, some states have shot them down. South Dakota, Montana, Pennsylvania, North Dakota, and Wyoming have rejected similar proposals. Lawmakers in these states have expressed concerns about the volatility of virtual assets. They argue that public funds should be invested in assets that have less financial risk.

The national debate over Bitcoin reserves has gained attention from political figures, with President Donald Trump recently announcing his support for a U.S. crypto reserve. Under the proposal, Bitcoin and Ethereum will be at the heart of the reserve.

Potential Impact and Next Steps for the Bill

A full House vote will decide the future of the New Hampshire bill. If the bill is approved, the state will join other states, such as Texas, in the race to be the first to fully pass the bill into law. If the vote passes, it will encourage the remaining states to create similar bills. In addition, it might inspire states that have opposed the bills to rethink their position.

Despite the growing popularity of cryptocurrencies, some countries have taken a different stance on adopting them. Recently, the Swiss National Bank dismissed the idea of adding Bitcoin to its reserves. In particular, officials cited the volatility and liquidity of these assets as the reasons for not including them in their reserves.

In contrast, El Salvador is adding to its Bitcoin portfolio. The country recently added 5 BTC during the recent market dip. The addition pushed its total holdings to 6,100 BTC, currently valued at around $510 million.