According to Cointelegraph, a New Hampshire House committee has approved a Bitcoin reserve bill, marking a significant step towards its potential adoption. The House Commerce and Consumer Affairs Committee passed House Bill 302 with a 16-1 vote on March 5, 2025. This development positions New Hampshire among seven U.S. states with active Bitcoin-related legislation awaiting a full House vote.
The bill, if enacted, would permit New Hampshire's treasurer to invest up to 5% of the general fund, revenue stabilization fund, or other legislatively authorized funds in digital assets. Although Bitcoin is not explicitly named in the bill, it is the only digital asset currently meeting the criteria of maintaining an average market cap of $500 billion over the past year. The legislation mandates that any acquired digital assets be held by a qualified custodian or as part of an exchange-traded product. Additionally, the bill allows for investments in precious metals such as gold, silver, and platinum.
Introduced by Republican Keith Ammon on January 10, the bill is co-sponsored by Democrats Chris McAleer and Carry Spier. During the March 5 committee session, Ammon highlighted amendments to exclude stablecoins and staking options. New Hampshire Treasurer Monica Mezzapelle has shown interest in investing in assets outlined in the bill, contingent on its passage. Initially, the proposal allowed for a 10% allocation, but this was revised to 5%.
New Hampshire joins North Carolina, Oklahoma, and Texas in awaiting a full House vote on similar legislation, while Utah and Arizona have already advanced their bills. This state-level regulatory progress coincides with U.S. President Donald Trump's announcement on March 2 of a Crypto Strategic Reserve, which would include Bitcoin, Ether, XRP, Solana, and Cardano. Bitwise's chief investment officer, Matt Hougan, suggested that the reserve would likely consist predominantly of Bitcoin.
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