New Hampshire Becomes the First US State to Approve the Crypto Reserve Law

Highlights:

• New Hampshire passes historic HB 302, creating the first state-level crypto reserve.
• New Hampshire can now invest in Bitcoin and metals if their market value tops $500 billion.
• Digital assets must be stored safely under U.S. rules for secure, stable management.

New Hampshire has made history by passing the first-ever state-level law to establish a crypto reserve in the U.S. The new legislation lets the state invest its public funds into precious metals and certain approved digital assets.

On May 6, House Bill 302 (HB 302) was signed into law by Governor Kelly Ayotte, opening new doors for New Hampshire’s treasury strategy. The law will come into effect in 60 days. Once active, it allows the state to include both precious metals and certain digital assets in its holdings. Only digital assets with a market cap above $500 billion will qualify, making Bitcoin the sole eligible option for now.

New Hampshire is once again First in the Nation! 🎉

Just signed a new law allowing our state to invest in cryptocurrency and precious metals. pic.twitter.com/ua9bawZKbM

— Governor Kelly Ayotte (@KellyAyotte) May 6, 2025

New Hampshire Treasurer May Invest 5% of State Funds in Bitcoin

Introduced in January, HB 302 permits the treasurer to use up to 5% of the state’s general fund and other approved funds for these investments. At the end of 2024, New Hampshire’s treasury had over $3.62 billion, according to its annual report. If the treasurer decides to invest the full 5%, this would be about $181 million. Currently, Bitcoin’s market cap is around $1.9 trillion, according to CoinMarketCap.

The law mandates secure storage of Bitcoin and digital assets according to U.S. regulations. They must be held in one of three ways: a state-controlled multisig wallet, a U.S.-approved exchange-traded product, or a trusted custodian. This rule helps keep the funds secure, stable, and responsibly managed. It also makes sure everything stays clear and fair for taxpayers.

Dennis Porter stated:

“Satoshi Action drafted the model, New Hampshire engraved it into law, and now every treasurer nationwide can follow that roadmap. HB 302 proves you can protect taxpayer money, diversify reserves, and future-proof state treasuries—all while embracing the most secure monetary network on Earth.”

States Push for Crypto Reserves

Other states, including Arizona and Texas, are looking into similar crypto initiatives, though not all proposals have passed. Just last week, Arizona Governor Katie Hobbs rejected a bill that would have permitted the state to invest in Bitcoin and other digital assets. Senate Bill 1025, also called the Arizona Strategic Bitcoin Reserve Act, aimed to allocate up to 10% of the state’s treasury and pension funds into digital assets.

First! https://t.co/QxOcT2FWL6

— Rep. Keith Ammon (@RepKeithAmmon) May 6, 2025

Meanwhile, the Florida State Senate chose to “indefinitely postpone” two crypto-related bills on Monday, which were designed to establish a Bitcoin reserve for the state. States across the US are pushing to create crypto reserves, following proposals from President Donald Trump and Republican lawmakers at the federal level. In March, he signed an executive order to set up a “Digital Asset Stockpile” and a “Strategic Bitcoin Reserve.”