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 became the first among 37 states to have a Bitcoin reserve bill officially enacted into law, while Arizona is being considered as a potential next adopter.
HB 302 was signed into law by Governor Kelly Ayotte on May 6, granting authorization to the state treasurer for holding Bitcoin within a regulated reserve framework. The policy model, crafted by the nonprofit Satoshi Action Fund, is intended to institutionalize the role of Bitcoin as a financial reserve asset for state-level governance.
Originally proposed in 2022, the legislation was introduced by Representative Keith Ammon (R-Hillsborough 40) and received approval with backing from Majority Leader Jason Osborne, the New Hampshire Blockchain Council, and various local supporters.
The treasurer has been authorized under the law to acquire Bitcoin and other digital assets possessing a market capitalization of over $500 billion, a threshold that, at present, is met solely by Bitcoin.
The holdings are restricted to a maximum of 5% of the state’s reserve portfolio and are required to be secured through custody arrangements regulated within the United States.
The signing of the law was confirmed by Ayotte through a social media post, in which it was stated:
New Hampshire is once again First in the Nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals.
The governor’s remarks were echoed by the New Hampshire House Republicans, who stated in a post that the “Live Free or Die” state is being recognized as a leader in shaping the future of commerce and digital assets.
The assets will be held through a state-managed multi-signature arrangement, a qualified custodian, or a U.S.-based exchange-traded product to ensure both transparency and regulatory compliance. The statute is scheduled to come into force 60 days following its enactment.
A statement was also released by Dennis Porter, CEO of the Satoshi Action Fund, in which HB 302 was described as a foundational model intended for nationwide implementation.
Expanding Momentum
With this legislation being approved, New Hampshire has been established as the first U.S. state to implement a law creating a Strategic Bitcoin Reserve.
As reported by Bitcoin Laws data, similar legislative proposals have been introduced by 37 out of 50 states, though the majority of these efforts have not advanced. Legislation concerning state-level Bitcoin reserves has yet to be filed by the remaining 13 states.
More than 20 similar bills have been drafted across the country by the Satoshi Action Fund, which has actively promoted the adoption of Bitcoin-based reserves as a means to diversify state treasury strategies.
Support for the passage of six pro-Bitcoin state laws has been reported by the organization, which also claims that over 220,000 constituent letters have been generated nationwide to advocate for these initiatives.
New Hampshire has been positioned by HB 302 as a pilot case for wider adoption of Bitcoin at the state level.
Strategic Bitcoin Reserve Race Heats Up
Arizona is identified by the “State Reserve Race” tracker from Bitcoin Laws as the most likely candidate to have a second Strategic Bitcoin Reserve bill enacted into law.
On May 1, concurrence with the House amendments to Arizona’s SB 1373 was recommended by the Senate majority. The bill is now set to be transmitted to the House chamber for review, after which it could be forwarded to the governor’s desk for final approval.
Crypto reserve proposals from North Carolina and Texas are currently undergoing a second review, having been presented to the Senate committee, placing both states closely behind in the legislative process.
The first enforceable framework in the U.S. for holding Bitcoin within public treasury accounts has been introduced by New Hampshire through the establishment of a legal reserve policy and the definition of operational parameters.
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