New Hampshire Approves First State Bitcoin Reserve

It makes the Granite State the first in the U.S. to establish a state-level Bitcoin reserve fund.

The bill allows the state treasurer to allocate up to 5% of New Hampshire’s reserve funds into Bitcoin. This effectively creates a state-level Bitcoin reserve, limited to digital assets with a market cap over $500 billion. The law will take effect in 60 days, signaling a new chapter in how states manage public funds and view emerging technologies.

New Hampshire Joins Bitcoin Reserve Trend

Until now, Bitcoin reserves have been mostly the domain of nations like El Salvador or companies like MicroStrategy and Tesla. But with HB 302, New Hampshire is staking its claim in uncharted territory—at the state level. According to the bill, the treasurer can hold up to 5% of the state’s Rainy Day Fund in Bitcoin, adding a potentially volatile but historically high-performing asset to the mix.

This move comes amid rising concerns about inflation, U.S. debt levels, and the long-term strength of the dollar. As traditional treasuries lose purchasing power, states are seeking smarter ways to preserve value. Bitcoin, with its capped 21 million supply and global liquidity, is increasingly viewed as a hedge, not unlike how gold was once used.

The bill sets clear guardrails: only assets with a $500 billion or greater market cap are eligible, which means speculative altcoins are off the table. It’s a conservative but forward-looking approach.

More About Bitcoin Reserves in the US

The image shows the progress of U.S. states in passing legislation to include Bitcoin in their state reserves, known as the “State Reserve Race.” Each row represents a state and tracks a bill’s progress from introduction to enactment across legislative steps (committees and chambers). New Hampshire (NH) is the only state to have fully enacted the bill. Arizona (Senate), North Carolina (House), and Texas (Senate) have passed the bill through one chamber.

Meanwhile, Alabama (House and Senate) and Georgia (Senate) have introduced bills and passed committee reviews, but haven’t moved further yet. The Bitcoin symbol at the end marks successful enactment or progress.

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