America’s first state-level Strategic Bitcoin Reserve law has been enacted by New Hampshire, creating a framework through which a portion of state funds will be allocated to Bitcoin (BTC) and certain other digital assets.
New Hampshire officially enacted a Bitcoin reserve bill, becoming the first among 37 states to do so, while Arizona is being considered as a potential next adopter.
Governor Kelly Ayotte signed HB 302 into law on May 6, authorizing the state treasurer to hold Bitcoin within a regulated reserve framework. The nonprofit Satoshi Action Fund crafted the policy model to institutionalize Bitcoin as a financial reserve asset for state-level governance.
Representative Keith Ammon (R-Hillsborough 40) originally proposed the legislation in 2022 and introduced it with strong backing from Majority Leader Jason Osborne, the New Hampshire Blockchain Council, and various local supporters.
The law authorizes the treasurer to acquire Bitcoin and other digital assets with a market capitalization exceeding $500 billion—a threshold currently met only by Bitcoin.
The state may allocate up to 5% of its reserve portfolio to Bitcoin and must secure these holdings through U.S.-regulated custody arrangements.
Ayotte confirmed the signing of the law through a social media post, stating:
New Hampshire is once again First in the Nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals.
New Hampshire House Republicans echoed the governor’s remarks, stating in a post that the “Live Free or Die” state is emerging as a leader in shaping the future of commerce and digital assets.
Expanding Momentum
With the approval of this legislation, New Hampshire has become the first U.S. state to implement a law creating a Strategic Bitcoin Reserve.
Bitcoin Laws data reports that 37 out of 50 states have introduced similar legislative proposals, though most efforts have stalled. The remaining 13 states have yet to file legislation concerning state-level Bitcoin reserves.
The Satoshi Action Fund has drafted more than 20 similar bills across the country and actively promotes the adoption of Bitcoin-based reserves to help diversify state treasury strategies.
The organization reports supporting the passage of six pro-Bitcoin state laws and claims to have generated over 220,000 constituent letters nationwide to advocate for these initiatives.
HB 302 positions New Hampshire as a pilot case for broader state-level adoption of Bitcoin.
Strategic Bitcoin Reserve Race Heats Up
The “State Reserve Race” tracker from Bitcoin Laws identifies Arizona as the most likely state to enact the second Strategic Bitcoin Reserve bill into law.
On May 1, the Senate majority recommended concurring with the House amendments to Arizona’s SB 1373. The bill now awaits review in the House chamber before potentially advancing to the governor’s desk for final approval.
North Carolina and Texas are currently reviewing their crypto reserve proposals for a second time after presenting them to the Senate committee. Both states remain close contenders in the legislative process.
New Hampshire has introduced the first enforceable U.S. framework for holding Bitcoin in public treasury accounts by establishing a legal reserve policy and defining operational parameters.
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