Keith Ammon isn’t just another politician with an opinion on cryptocurrency—he’s been trying to make Bitcoin part of New Hampshire’s financial future for nearly a decade. From pushing tax payment proposals in 2016 to spearheading a bold 2025 Bitcoin treasury reserve bill, the Hillsborough 40th District representative has remained one of the most vocal advocates for digital assets in state policy.
Now, despite resistance from state officials and fellow legislators, Ammon is pressing forward with his vision to position New Hampshire as a leader in cryptocurrency adoption.
A History of Cryptocurrency Advocacy
Ammon’s introduction to Bitcoin dates back to the early 2010s when the digital currency was still largely unknown. Moving to New Hampshire in 2009 as part of the Free State Project, he quickly immersed himself in libertarian circles where cryptocurrency was seen as a tool for financial sovereignty. His early involvement in the space led to legislative efforts aimed at making Bitcoin part of the state’s financial framework.
In 2016, Ammon co-sponsored a bill that would have allowed New Hampshire to accept Bitcoin for tax payments, but it was defeated in committee. The proposal, which sought to use third-party payment processors to convert Bitcoin into U.S. dollars, was dismissed by lawmakers who were largely unfamiliar with the digital currency.
Despite the failure, Ammon remained undeterred. In 2018, he backed legislation exempting cryptocurrency users from money transmitter laws, a move designed to make New Hampshire more crypto-friendly. That bill passed the House but stalled in the Senate.
By 2023, Ammon had turned his attention to decentralized finance, introducing HB645 to establish a legal framework for decentralized autonomous organizations (DAOs) in the state. The bill sought to recognize DAOs as legal entities, furthering New Hampshire’s reputation as a blockchain-friendly jurisdiction. Though its status remains unclear, the proposal demonstrated Ammon’s commitment to modernizing state policies around digital assets.
The Bitcoin Treasury Reserve Proposal
In January 2025, Ammon introduced his most ambitious cryptocurrency legislation yet: a bill allowing New Hampshire’s treasury to invest public funds into Bitcoin and other digital assets. The proposal would permit the state treasurer to allocate up to 10% of state funds into assets with a market capitalization exceeding $500 billion, a criterion that currently only Bitcoin meets. Additionally, the bill includes provisions for investments in gold, silver, and platinum, positioning the initiative as a hedge against inflation.
“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” Ammon told Decrypt. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”
Security provisions within the bill outline requirements for digital asset custody, including partnerships with SEC- and CFTC-approved custodians. Ammon has framed the measure as a strategic diversification tool, arguing that states slow to establish Bitcoin reserves will face long-term financial disadvantages.
Skepticism and Political Hurdles
Despite Ammon’s confidence in the proposal, early reactions from state officials suggest a challenging road ahead. New Hampshire State Treasurer Monica Mezzapelle has yet to take a formal stance, stating that she has not reviewed the bill’s text. Historically, similar proposals have been met with resistance from lawmakers wary of Bitcoin’s volatility and regulatory uncertainty.
At the federal level, cryptocurrency has become an increasingly prominent topic. In 2024, Senator Cynthia Lummis introduced the BITCOIN Act, which proposed the creation of a federal Bitcoin reserve. Ammon’s bill echoes similar ideas, aiming to bring Bitcoin onto New Hampshire’s balance sheet before larger government entities take the lead.
Crypto advocates have expressed support for Ammon’s initiative, with figures such as Dennis Porter of the Satoshi Action Fund backing the bill. However, it remains unclear how much traction the proposal will gain among New Hampshire legislators. Without strong backing from financial and regulatory officials, the bill could face the same fate as Ammon’s earlier crypto-related initiatives.
A Persistent Vision for Bitcoin in Government
Ammon has long maintained that Bitcoin’s decentralized nature makes it resistant to government control, which he sees as both an opportunity and a challenge. In a 2016 interview, he noted that Bitcoin could make governments obsolete, a position that has shaped his approach to policy. Rather than waiting for national-level adoption, he has pushed New Hampshire to take proactive steps toward embracing digital assets.
His efforts have not been limited to legislation. As the founder and chairman of the New Hampshire Blockchain Council, Ammon has worked to promote blockchain education and investment within the state. His advocacy extends beyond Bitcoin as a currency—he envisions New Hampshire becoming a hub for blockchain innovation, attracting businesses and developers to the region.
For now, Ammon’s latest bill remains in its early stages, with no scheduled public hearings. If successful, it could mark a historic moment for state-level Bitcoin adoption. But with opposition likely from financial officials and lawmakers unfamiliar with the space, its future remains uncertain.
Ammon, however, remains undeterred. “The state that is last to build Bitcoin reserves will lose,” he said. “It’s urgent that states act sooner than later, and that takes some education on the part of state officials.”
