Key Takeaways
- New Hampshire's HB 302 would allow investment of 10% of state funds in Bitcoin.
- The bill passed its second committee with a 4–1 vote and now heads to the full Senate.
- Only Bitcoin qualifies under the bill’s $500 billion market cap requirement.
New Hampshire’s House Bill 302 (HB 302), which would authorize the state treasurer to allocate up to 10% of general funds into Bitcoin and precious metals, has passed its second committee and will now face a vote by the full Senate.
The bill cleared the Senate committee on April 23 in a 4–1 vote after previously passing the House 192–179.
Introduced in January, the legislation requires the governor’s signature if approved by the Senate.
Under HB 302, only digital assets with a market capitalization over $500 billion would qualify — currently a threshold met solely by Bitcoin.
Support & opposition
Supporters argue the bill offers the state an opportunity to benefit from potentially high returns.
Republican Representative Jordan Ulery noted:
This could net the state a large amount of money.
However, some lawmakers voiced concern.
Democratic Representative Terry Spahr said the bill is unnecessary and could jeopardize the security of the state’s digital holdings, asserting that the state treasurer already possesses adequate investment authority.
Additional blockchain legislation
In addition to HB 302, New Hampshire’s legislature is considering two other blockchain-related bills.
HB 639 targets dispute resolution and regulatory structures for blockchain, while HB 310 explores tokenization of real-world assets and stablecoin implementation.
Arizona’s parallel efforts
Meanwhile, Arizona is pursuing its own path, examining the creation of a strategic Bitcoin reserve, which could make it the first U.S. state to do so.
