On May 6, New Hampshire made history by becoming the first US state to permit its treasury to invest in cryptocurrency assets, following the signing of House Bill 302 by Governor Kelly Ayotte. In a notable declaration shared on social media, Governor Ayotte stated, “New Hampshire is once again first in the Nation,” highlighting the significance of this legislative achievement.
“Just signed a new law allowing our state to invest in cryptocurrency and precious metals,” she emphasized.
This groundbreaking law, set to take effect in 60 days, positions New Hampshire to begin acquiring Bitcoin—a significant step as the cryptocurrency climbs from a value of $94,000 to an impressive intraday high of $97,500. This surge in Bitcoin’s value can be linked to various positive developments, particularly surrounding US-China trade relations.
New Hampshire is once again First in the Nation!
Just signed a new law allowing our state to invest in cryptocurrency and precious metals. pic.twitter.com/ua9bawZKbM
— Governor Kelly Ayotte (@KellyAyotte) May 6, 2025
The bill, introduced in January, legitimizes the New Hampshire State Treasurer’s ability to invest in Bitcoin and other digital currencies with market capitalizations exceeding $500 billion. Currently, Bitcoin is the only cryptocurrency that qualifies, given that Ethereum, the second-largest cryptocurrency, has a market cap of only $220 billion.
Structured Investment Approach
Under HB 302, holdings in cryptocurrencies are limited to 5% of the state’s total funds to ensure a balanced investment strategy. Furthermore, all digital assets must be stored securely in US-regulated custody using state-controlled multi-signature wallets, qualified custodians, or exchange-traded products. This regulatory framework aims to balance innovative investment with fiscal responsibility and transparency.
As noted by New Hampshire Republicans on X, “The Live Free or Die state is leading the way in forging the future of commerce and digital assets.” This sentiment reflects the broader ambition of New Hampshire to diversify its state reserves while maintaining rigorous standards.
“The odds of multiple states passing Strategic Bitcoin Reserve legislation into law just went up by a massive amount today,” remarked Dennis Porter, founder of the Satoshi Action Fund, an organization that has championed similar Bitcoin-focused legislation across the United States.
The legislation has been constructed in line with the policy framework established by Satoshi Action, which has successfully supported six pro-Bitcoin laws and over 20 related bills at the state level throughout the nation.
Contrasting Moves in Other States
Interestingly, New Hampshire’s bold move comes just after setbacks for crypto legislation in other states. Florida’s legislature recently stalled two similar bills that aimed to enable the state’s chief financial officer to allocate up to 10% of specific state funds towards Bitcoin investments. These bills have been indefinitely postponed and withdrawn from further consideration.
Similarly, in Arizona, lawmakers saw their hopes for cryptocurrency investment legislation dashed when Governor Katie Hobbs vetoed HB 1025 on May 3, characterizing digital assets as “untested investments.” While another bill, HB 1371, awaits final voting, it remains uncertain whether the prevailing sentiments towards cryptocurrency will shift in the near term.
New Hampshire’s pioneering stance certainly garners attention and may pave the way for other states to reconsider their approaches towards integrating cryptocurrencies into their investment portfolios.
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