title: New Hampshire and Florida Are Pushing Forward With Plans to Hold Bitcoin as Part of Their State Reserves

New Hampshire and Florida are pushing forward with plans to hold Bitcoin as part of their state reserves. On April 10, New Hampshire's House passed Bitcoin reserve bill HB302

Several state lawmakers in the U.S. are pushing forward with plans to hold Bitcoin (BTC) as part of their state reserves.

New Hampshire House Passes Bitcoin Reserve Bill In A Close Vote

In a close vote of 192-179, the House of Representatives in New Hampshire passed a bill that would enable the state to invest in Bitcoin.

The bill, HB302, still needs approval from the Senate and the Governor of New Hampshire, Kelly Ayotte.

If passed, the bill would allow the state to invest up to 10% of its general fund in Bitcoin and precious metals.

The legislation permits investment only in digital assets with a market cap over $500 billion, a threshold currently met by Bitcoin alone.

Some lawmakers expressed concerns, but Republican Representative Jordan Ulery, a backer of the bill, highlighted the potential for the state to earn substantial returns.

Florida Lawmakers Advance Bitcoin Reserve Bill

On the same day, lawmakers in Florida took a step closer to legalizing Bitcoin investment for the state’s treasury.

The House Insurance and Banking Committee unanimously approved HB487, a bill that would allow the state’s financial officials to invest in Bitcoin.

The bill, which now advances to two more committees before reaching the House floor, permits investing up to 10% of key funds, including the General Revenue Fund, in Bitcoin.

Bill sponsor Rep. Webster Barnaby emphasized the importance of putting Florida at the “leading edge” of digital finance. The bill also details strict custody rules and allows Bitcoin investment through direct purchase or exchange-traded products.

According to Bitcoin Laws, Arizona is spearheading the initiative to become the first U.S. state with a Bitcoin reserve, closely followed by Texas, Oklahoma, New Hampshire, and Florida.

The race to be the first state in the Union to hold Bitcoin is heating up rapidly.