New Hampshire Bill Proposes Investments in Bitcoin and Gold
A new bill by New Hampshire Rep. Keith Ammon could allow the Treasury Department to hold Bitcoin and precious metals as reserve assets. The proposed legislation would allow the state to store Bitcoin alongside traditional assets like gold, silver, and platinum, making New Hampshire one of the first U.S. states to officially consider such a move.
Hampshire Bill Proposes Investments in BTC and Gold
The bill introduced by Republican lawmaker Keith Ammon details the plan to create a “strategic reserve” for the state using physical and digital currencies. The bill is designed to allow the New Hampshire Treasury Department to invest in Bitcoin and precious metals as reserves.
Therefore, this represents a paradigm shift in the way states manage their financial assets as cryptocurrencies continue to gain traction.
The bill also outlines how digital assets will be secured, as demonstrated by “secure custody solutions.” This would mean that the state would have to work with “qualified custodians” to avoid potential risks associated with storing digital assets. The legislation aims to address key security and legal issues, especially as more states turn to cryptocurrencies like El Salvador’s BTC buying strategy.
Growing interest in Bitcoin reserves across states
New Hampshire’s proposal follows similar measures from other states like Texas, Ohio, and Pennsylvania. The idea of using Bitcoin as a reserve has become increasingly popular over the past year as more people embrace cryptocurrencies and use of decentralized finance.
New U.S. President Donald Trump also recently joined the debate during his election campaign when he promised that the United States would become a leader in cryptocurrency. The Trump administration had previously stated that the federal government owned 207,000 Bitcoins, giving a boost to other statewide initiatives like New Hampshire’s.
Dennis Porter, CEO of Satoshi Action Fund, confirmed the bill’s introduction in a statement posted on X. According to Porter, the bill aims to position New Hampshire as a forward-thinking state by embracing digital assets and guaranteeing their secure storage.
Global Interest in BTC as a Reserve Asset
The idea of using Bitcoin as part of government reserves is not limited to the United States. Countries like Brazil and Poland have also begun exploring this concept, with some countries taking steps to include cryptocurrencies in their treasuries.
Notably, Bhutan recently announced plans to expand crypto adoption as part of its Gelephu Mindfulness City (GMC) initiative. Bhutan’s decision to keep Bitcoin, Ethereum, and Binance Coin in its reserves underscores the growing global adoption of digital assets. Changpeng Zhao, co-founder of Binance, pointed out that this approach reflects a desire to diversify reserves beyond Bitcoin.
If passed, the bill could make New Hampshire a pioneer in implementing cryptocurrencies in public sector financial systems. However, the bill could face resistance from politicians who remain skeptical about the price volatility of digital assets and the security of storage solutions.