New Hampshire has made history by becoming the first U.S. state to create a state-level Bitcoin and Digital Asset Reserve Fund. Governor Kelly Ayotte signed House Bill 302 into law this week, authorizing the state treasurer to allocate up to 5% of total state funds into Bitcoin or other digital assets with a market capitalization exceeding $500 billion. Currently, only Bitcoin meets that threshold.
The law is set to take effect in 60 days. The move marks a landmark shift in public finance policy and positions New Hampshire as a national pioneer in integrating digital assets into government reserves.
“This is about modernizing how we think about state-level asset management,” said one supporter of the bill. “Bitcoin offers long-term upside and a hedge against traditional market risks.”
New Hampshire’s decision stands in contrast to recent developments in other states. Efforts to establish a similar Bitcoin reserve fund in Florida collapsed after two bills—House Bill 487 and Senate Bill 550—were indefinitely postponed and withdrawn from consideration.
Though introduced with the aim of allocating up to 10% of certain state funds into Bitcoin, the proposals failed to make progress before Florida’s legislative session ended on May 2.
Florida’s retreat mirrors a broader trend across the country. States like Wyoming, North Dakota, and Montana have also struggled to pass similar legislation. Meanwhile, Arizona’s own attempt was vetoed by Governor Katie Hobbs, who labeled digital assets “untested investments.”
Despite these setbacks elsewhere, New Hampshire’s breakthrough may reignite momentum for other states considering similar measures. Crypto advocates now hope New Hampshire’s success can serve as a blueprint for others in the months ahead.