In a groundbreaking move, New Hampshire has become the first state in the United States to permit the investment of its public funds into cryptocurrency assets. Governor Kelly Ayotte officially signed the new law on Tuesday, positioning the state as a leader in the evolving landscape of digital finance.
This decision comes amidst a surge of interest from state lawmakers in cryptocurrency, though many states have faced legislative hurdles in recent weeks. By authorizing its treasurer to establish a reserve fund for crypto assets, New Hampshire may also be paving the way for the U.S. government to follow suit in forming its own stockpile.
“New Hampshire is once again first in the Nation,” posted Governor Ayotte, a Republican in her inaugural year, on social media platform X. This statement underscores the state’s commitment to innovation and economic forward-thinking.
The newly passed law allows for the investment of up to 5% of public funds in digital assets that possess a market capitalization of at least $500 billion, with Bitcoin currently being the only asset that meets this criterion. This move not only showcases New Hampshire’s proactive approach but also highlights the growing legitimacy of cryptocurrencies in public finance.
“We’re incredibly excited about the win that has occurred in New Hampshire,” said Dennis Porter, founder of the Satoshi Action Fund, which has been advocating for states to consider cryptocurrency reserves. In an interview with CoinDesk, Porter expressed hope that other states would soon follow New Hampshire’s lead. “The first one’s the hardest, by far,” he noted. “Having a state that’s already gotten it done will really increase the political momentum.”
State House Republicans in New Hampshire took to X to celebrate their achievement, declaring the state “OFFICIALLY the first state to lay the groundwork for a strategic bitcoin reserve.” They emphasized, “The Live Free or Die state is leading the way in forging the future of commerce and digital assets.”
While Arizona had previously made strides by getting a similar proposal to the governor’s desk, that legislation was vetoed. Other states, including Florida, have since withdrawn their attempts, while North Carolina continues to champion its own crypto initiatives, bolstered by notable legislative support.
Federal interest in cryptocurrency also exists, as former President Donald Trump had previously called for the establishment of a national bitcoin reserve. However, the Treasury Department remains in the process of assessing existing governmental assets that could be utilized for such funds.
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UPDATE (May 6, 2025, 17:46 UTC): Updates with comment from Dennis Porter, founder of the Satoshi Action Fund.
