New Hampshire Bill Would Create State-Level Bitcoin Strategic Reserve

The proposal, introduced in the State House and identified as “AN ACT relative to enabling the state treasury to invest in precious metals and digital assets,” has garnered attention from advocates who see digital currencies as a hedge against economic uncertainty.

A bill that would allow the state treasury to invest in precious metals and digital assets has been introduced in the State House.

The bill, which was shared on social media by a prominent cryptocurrency advocate, would add a new section to state law under RSA 6, titled “6:8-d Strategic Reserve Established.”

The proposal would authorize the state treasurer to place funds in exchange-traded products tied to cryptocurrencies, provided they meet regulatory requirements set by entities such as the Securities and Exchange Commission, the Commodities Futures Trading Commission, or the state's own securities commissioner.

The bill also defines “precious metal” as silver, gold, or platinum, and includes guidelines on “secure custody solutions” for storing digital assets.

Dennis Porter, a well-known cryptocurrency commentator, announced the development on social media and posted the bill.

State Representative Keith Ammon, a Republican who represents Hillsborough District 42, is the lead sponsor of the bill. A cryptocurrency enthusiast and advocate for blockchain technology, Ammon's approach to governance aligns with what some lawmakers describe as “techno-optimism.”

If passed, the legislation would allow the state to hold certain digital assets alongside more traditional reserves, reflecting a growing trend among policymakers who view cryptocurrency as a strategic store of value.

The New Hampshire bill comes amid broader discussions at the national level about Bitcoin's role in the U.S. financial system. Some officials have recently proposed establishing a federal “bitcoin strategic reserve,” following suggestions that emerged from Washington over the past year.

Supporters of such a reserve argue that adding digital assets to government holdings could provide a safeguard against debt concerns and potentially generate significant returns, especially if cryptocurrency prices continue to rise.

Prominent figures have expressed optimism about the effects of government adoption of Bitcoin. One professional, commenting on the proposed legislation, stated that if the state proposals move forward, “the sky’s the limit because bitcoin has a fixed supply.” Others have predicted prices well over $100,000 per bitcoin, anticipating multi-trillion-dollar market capitalizations that could rival or surpass those of precious metals.

Critics of the new legislation, however, caution that while digital assets like Bitcoin have garnered enthusiastic support among individual investors and tech-savvy lawmakers, they remain volatile and lack the same track record as more established commodities. Skeptics argue that any government-held asset should demonstrate proven stability and utility in emergency scenarios, comparing the new approach to the well-known U.S. Strategic Petroleum Reserve.

Nevertheless, the proposed New Hampshire bill outlines a detailed structure. It defines a “qualified custodian” as a financial or depository institution regulated by federal or state banking authorities, which would be entrusted to safeguard the digital assets acquired.

Additionally, the bill mandates a “secure custody solution,” ensuring that cryptographic private keys remain within a system dedicated to protecting them from theft or accidental loss.

Supporters of the measure maintain that it has the potential to secure the state's future economic interests, highlighting the rising acceptance of Bitcoin across industries and the notable gains in the cryptocurrency's value over the past year. Notably, respected ETF custodians like Bitwise have predicted that the price of Bitcoin could reach $200,000 in 2025.

If approved in the upcoming session, the law could position New Hampshire as a forerunner among states seeking to adopt alternative investments.