Key Takeaways
- New Hampshire aims to create a 'Strategic Bitcoin Reserve.'
- The bill includes guidelines for secure custody of digital assets.
- Supporters view Bitcoin as a hedge against economic uncertainties.
New Hampshire lawmakers have introduced a bill that would enable the state treasury to invest in Bitcoin and precious metals, aiming to establish a “Strategic Bitcoin Reserve.”
Titled “AN ACT relative to enabling the state treasury to invest in precious metals and digital assets,” the proposal would allow funds to be placed in exchange-traded products linked to Bitcoin and other assets.
Investment safeguards
The bill, sponsored by Republican State Representative Keith Ammon, outlines safeguards for investments, including compliance with regulatory standards set by entities like the SEC and CFTC.
It also defines secure custody requirements for safeguarding digital assets, with measures to protect private keys from theft or loss.
Support & advocacy
Advocates like Dennis Porter, a prominent Bitcoin commentator, have highlighted the proposal as a forward-thinking initiative.
Porter shared the bill on social media, adding momentum to discussions about integrating Bitcoin into government-held reserves.
Strategic implications
The proposal reflects a growing trend among policymakers to view Bitcoin as a strategic asset.
Recent national conversations have suggested a federal Bitcoin reserve, citing its fixed supply and potential as a hedge against economic uncertainties.
However, critics warn about Bitcoin’s volatility and argue that government reserves should prioritize stability and reliability.
Potential impact
If passed, the legislation could position New Hampshire as a leader in alternative investments, mirroring global and national interest in Bitcoin as a valuable reserve asset.
