TLDR
- New Hampshire is the first U.S. state to hold Bitcoin in its treasury.
- HB 302 allows up to 5% of state reserves to be invested in Bitcoin.
- Only digital assets over $500B market cap are eligible—currently just Bitcoin.
- The law requires secure, U.S.-regulated custody for all crypto holdings.
- Satoshi Action backed the bill and takes effect in 60 days.
New Hampshire has officially the first U.S. state to establish a strategic Bitcoin reserve. Governor Kelly Ayotte signed House Bill 302 (HB 302) into law, authorizing the state treasurer to allocate a portion of state funds into Bitcoin and select digital assets. This legislative move positions New Hampshire at the forefront of state-level cryptocurrency adoption.
🚨NEW: New Hampshire becomes the first U.S. state to pass a strategic $BTC reserve into law, authorizing the treasurer to purchase the world’s largest digital asset directly or through an ETP. https://t.co/pPZsIqaoIv
— Eleanor Terrett (@EleanorTerrett) May 6, 2025
The legislation, developed using the model policy framework from Satoshi Action, aims to incorporate Bitcoin into the state’s financial strategy in a regulated and structured manner. The bill passed through the state legislature with the support of Representative Keith Ammon and Majority Leader Jason Osborne, alongside advocacy efforts from the NH Blockchain Council.
Key Provisions of the Strategic Bitcoin Reserve Law
Under HB 302, the state treasurer is authorized to invest in Bitcoin with a market capitalization exceeding $500 billion.Bitcoin is the only cryptocurrency that qualifies under this threshold. The law caps the total digital asset holdings at 5% of the state’s overall reserve funds to ensure diversified fiscal management.
The bill mandates that digital assets acquired be stored using secure, U.S.-regulated custody solutions. This includes state-controlled multisignature wallets, custody through a qualified custodian, or investment via a U.S. exchange-traded product (ETP). These measures are intended to enhance transparency and reduce custodial risks associated with digital assets.
Implementation Timeline and Strategic Goals
HB 302 will take effect 60 days from the date of signing, providing the state with a clear timeline for implementation. This window allows New Hampshire’s treasury department to finalize operational protocols for procurement, custody, and ongoing oversight of the digital asset reserve.
The law is designed to hedge against currency devaluation and offer diversification within the state’s financial portfolio. The state aims to build resilience in its treasury strategy while aligning with regulated investment practices.
Satoshi Action’s Role and Broader Legislative Impact
The passage of HB 302 marks a legislative milestone for Satoshi Action, a nonprofit organization focused on advancing Bitcoin and digital asset policy. The bill follows their Strategic Bitcoin Reserve model, which has been introduced in over 20 states. According to the organization, six Bitcoin-focused laws have been passed nationwide and the New Hampshire law is the first to establish an official reserve fund.
This development may prompt other U.S. states to consider similar legislative action. New Hampshire law could serve as a case study for future state-level initiatives exploring digital assets in public finance.
