The movement to integrate Bitcoin into state financial frameworks has gained serious traction, with New Hampshire’s House Commerce and Consumer Affairs Committee passing a pro-Bitcoin bill in a dominant 16-1 vote on March 5. This landslide decision signals strong legislative support for digital asset adoption at the state level and sets the stage for a full House floor vote.
The bill, known as House Bill 302, would allow New Hampshire’s state treasurer to invest up to 5% of select state funds into Bitcoin and other qualifying assets. While the bill does not explicitly mention Bitcoin, it specifies that only digital assets with a market capitalization averaging $500 billion over the past year would be eligible, making Bitcoin the sole asset that currently meets the criteria.
Under the proposed legislation, any digital assets acquired would need to be held by a qualified custodian or in an exchange-traded product, ensuring institutional-grade security for the state’s holdings. The bill would also permit investments in precious metals like gold, silver, and platinum, reinforcing Bitcoin’s emerging role as a digital store of value alongside traditional assets.
Strong Bipartisan Support and Key Amendments
Introduced by Republican Representative Keith Ammon on January 10, House Bill 302 has gained bipartisan backing, with Democratic co-sponsors Chris McAleer and Carry Spier joining the effort. During the March 5 committee session, Ammon confirmed that the bill had been amended to exclude stablecoins and staking, aligning it with a more conservative investment strategy.
Additionally, New Hampshire’s State Treasurer Monica Mezzapelle has reportedly expressed interest in investing in assets covered by the bill, should it pass. Originally, the bill proposed a 10% allocation of funds, but lawmakers revised the threshold to 5% to maintain a measured approach to digital asset exposure.
New Hampshire Joins a Growing List of Bitcoin-Friendly States
New Hampshire is now one of several U.S. states advancing Bitcoin-focused legislation. Similar bills are currently awaiting votes in North Carolina, Oklahoma, and Texas, while Utah and Arizona have already passed Bitcoin-related legislation. The increasing momentum suggests that states are actively seeking ways to incorporate Bitcoin into their financial strategies despite lingering federal regulatory uncertainties.
The bill’s progress also follows President Donald Trump’s March 2 announcement of a U.S. Crypto Strategic Reserve, which would include Bitcoin, Ethereum, XRP, Solana, and Cardano. However, Bitwise’s Chief Investment Officer Matt Hougan suggested on March 5 that the reserve would likely consist almost entirely of Bitcoin, reinforcing the asset’s dominance in both institutional and governmental adoption discussions.
What This Means for Bitcoin and State-Level Crypto Adoption
The passage of House Bill 302 through the New Hampshire House Committee is more than just a symbolic victory—it represents a growing trend of U.S. states embracing Bitcoin as a legitimate reserve asset. If the bill clears a full House vote, it could serve as a model for other states considering similar financial policies, further integrating Bitcoin into the traditional financial system.
As states take the lead in digital asset legislation, will federal regulators follow suit? The outcome of New Hampshire’s upcoming House vote could serve as a key indicator of Bitcoin’s expanding role in U.S. financial infrastructure.
