New Hampshire has become the first state to allow the investment of its public funds in cryptographic assets with its governor signing the new law on Tuesday.
The State beat others of others this year, since what began as an increase in state legislator Momentum had found obstacles in recent weeks. As the first to authorize his treasurer to establish this reserve, New Hampshire could also beat the United States government to form a reserve.
“New Hampshire is once again the first in the nation”, the governor of New Hampshire, Kelly Ayotte, a Republican who is in his first year in office, published on the social media site X.
New Hampshire’s bill allows investment of up to 5% of public funds in a digital asset that has at least $ 500 billion in market capitalization, which currently leaves Bitcoin (BTC) as the only qualified asset.
“We are incredibly excited about the victory that has occurred in New Hampshire,” said Dennis Porter, founder of the Satoshi Action Fund who has been promoting state legislators to seek reservations. He told Coindesk in an interview that expects other states to follow his example.
“The first is the hardest, with a lot,” Porter said. “Having a state that has already done so, will really increase political impulse.”
The state Republicans of the Habeshire House of Representatives also published on Tuesday of X, boasting that their state is “officially the first state to lay the foundations for a strategic Bitcoin reserve.”
“The Live Free or Die state is leading the way to forge the future of trade and digital assets,” they wrote.
Arizona had been the first state to obtain a measure similar to his governor’s desk, but the legislation was vetoed, although other bills still expect the governor’s consideration. Florida has also withdrawn his own effort, joining other states in which the reserve impulse has struggled. But North Carolina remains a strong contender, because her effort is being defended by an outstanding legislator.
President Donald Trump had asked his administration to establish his own Bitcoin reserve and separate cryptographic storage, although the Treasury department is still examining what the federal government has on hand that can be redirected to those eventual funds.
Read more: Crypto Sherpa Bo Hines of Trump says that cryptographic legislation on the objective for its rapid completion
Update (May 6, 2025, 17:46 UTC): Updates with comments from Dennis Porter, founder of the Satoshi Action Fund.
