New Hampshire’s House and Florida’s House insurance and banking committee have respectively advanced bills allowing their states to create Bitcoin reserves.
New Hampshire’s House passed its Bitcoin reserve bill, HB302, in a 192-179 vote on April 10 which will now head to the Senate. The state is now the fourth to pass a Bitcoin (BTC) reserve bill through one chamber, joining Arizona, Texas and Oklahoma.
If HB302 clears New Hampshire’s Senate and Governor Kelly Ayotte signs it into law it would allow the state’s treasurer to use 10% of the state’s general fund and other authorized funds to invest in precious metals and certain digital assets. The bill also sets out how they should be custodied.
The bill specifies that only cryptocurrencies with a market capitalization of over $500 billion would be eligible for investment, a criteria that