The push to add Bitcoin to state treasuries is gaining momentum in New Hampshire, with lawmakers advancing a bill that could allow the state to hold Bitcoin as part of its official reserves.
On April 10, New Hampshire’s House passed House Bill 302 in a 192-179 vote, making it the fourth state to have advanced a Bitcoin reserve-related bill through a legislative chamber.
The bill will now move to the state Senate for further consideration. If approved, it would then head to Governor Kelly Ayotte’s desk for a final signature before becoming law.
What is House Bill 302?
Upon becoming law, House Bill 302 would permit the state treasurer to allocate up to 10% of state funds or any other legislatively approved funds into Bitcoin and select precious metals like gold, silver, and platinum.
To qualify for investment, a digital asset must have maintained an average market capitalization of over $500 billion over the past year.
Currently, Bitcoin is the only asset that meets this criterion.
The bill also lays out strict custody requirements. Assets could either be held directly by the state through a secure custody solution, by a qualified custodian, or via an exchange-traded product.
The idea is to keep state holdings safe while still giving them room to grow.
Originally, the bill included stablecoins and proposed provisions to include staking, but those provisions were later removed.
What remains is a streamlined version focused solely on high-cap, well-established assets like Bitcoin.
HB302 is part of a broader legislative effort in New Hampshire to address blockchain and digital asset policy.
Lawmakers are also reviewing two other bills that focus on stablecoins, real-world asset tokenization, and regulatory clarity for blockchain use.
HB310 calls for the creation of a commission to study the regulation of stablecoins and tokenized real-world assets.
The panel would evaluate legal models, identify potential risks, and issue recommendations on how the state should approach these technologies.
HB639, on the other hand, focuses on legal protections and clarity around blockchain usage.
Arizona leads strategic reserve race
According to Bitcoin Laws, which tracks crypto-related bills across the country, Arizona remains the frontrunner in this state-level race.
As previously covered on Invezz, two Arizona bills, SB 1373 and SB 1025, cleared the House Rules Committee in March.
SB1373 would set up a new state-run fund made from seized digital assets and government money, while SB1025 would let existing public funds invest up to 10% in Bitcoin if a federal reserve is created.
If either is signed into law, Arizona would become the first state to officially launch a strategic Bitcoin reserve using a mix of seized crypto and allocated public funds.
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