New Hampshire’s push toward digital asset adoption took a significant step forward on Thursday as lawmakers in the state’s House of Representatives approved a bill that would allow the treasury to invest in Bitcoin. Known as HB302, the measure passed by a razor-thin margin—192 votes in favor, 179 against—and now advances to the state Senate for further debate.
The bill, sponsored by Representative Keith Ammon, proposes allocating up to 5% of the state’s reserves into a mix of precious metals and digital assets, including Bitcoin. Ammon framed the legislation as a way for New Hampshire to diversify its financial exposure and gain access to “an uncorrelated, emerging asset class,” while still maintaining ties to the U.S. dollar.
Though the margin was narrow, the passage signals growing interest among lawmakers in exploring Bitcoin as part of a broader state-level economic strategy—especially as inflationary pressures and currency concerns persist nationwide.
Details of HB302
Originally introduced in January with a proposed 10% cap, HB302 was later amended to allow the state treasury to allocate up to 5% of public funds into either precious metals or high-cap digital assets. According to the latest bill text, only cryptocurrencies with a market capitalization exceeding $500 billion—averaged over the previous calendar year—would qualify. At present, only Bitcoin meets that threshold.
Based on the state treasury’s most recent annual report, New Hampshire manages approximately $3.6 billion in reserves. A 5% allocation would equate to a potential $181 million investment in Bitcoin or metals like gold and silver.
Should the treasury opt to place the entire amount into Bitcoin, current prices around $79,755 would net the state an estimated 2,269 BTC. While Bitcoin was down 3.5% on the day of the bill’s passage, advocates argue the move could offer long-term diversification and serve as a hedge against fiscal uncertainty.
Bill Includes Strict Custody Provisions for Bitcoin
Under the terms of HB302, any digital assets acquired by the New Hampshire treasury must be safeguarded through secure and regulated channels. The bill outlines three custody options: storage via a qualified custodian, management by the state treasurer using secure infrastructure, or exposure through an exchange-traded product offered by a registered investment firm.
These requirements are designed to mitigate risk and align the state’s approach with institutional-grade standards already employed by major asset managers.
New Hampshire’s move places it among a growing list of U.S. states exploring legislation to add Bitcoin to their balance sheets. However, not all such efforts have succeeded—similar proposals in Pennsylvania and Wyoming recently stalled in their respective Houses, reflecting the political and regulatory hurdles that still face state-level crypto adoption.
Quick Facts:
- HB302 allows New Hampshire’s treasurer to invest up to 5% of public funds in Bitcoin and precious metals.
- The bill passed the House with a 192–179 vote and now awaits Senate consideration.
- Representative Keith Ammon champions the bill as a hedge against inflation and fiscal risk.
- New Hampshire joins a growing list of states exploring digital assets for treasury reserves.
