13-4-2025 – In a shift towards cryptocurrency adoption at the governmental level, two prominent American states have made substantial headway in their pursuit of establishing state-owned Bitcoin reserves.
In a watershed moment for cryptocurrency legislation, New Hampshire’s lower chamber has narrowly endorsed a groundbreaking proposal. House Bill 302 squeaked through with a mere 13-vote margin, securing 192 votes in favour against 179 opposing voices. The legislation, should it receive the green light from both the Senate and Governor Kelly Ayotte, would revolutionise the state’s investment strategy.
The measure’s stringent parameters have caught the attention of financial analysts. The proposed legislation would empower the state treasurer to channel up to a tenth of state funds into a carefully curated portfolio combining digital assets and precious metals. However, the bill’s exacting standards effectively create a Bitcoin monopoly, as its half-trillion dollar market capitalisation threshold eliminates all other cryptocurrencies from consideration.
Sunshine state’s unprecedented consensus
Meanwhile, Florida has achieved what many considered impossible: unanimous cross-party support for its Strategic Bitcoin Reserve initiative. The Insurance and Banking Subcommittee’s wholesale endorsement of HB487 marks an unprecedented breakthrough in cryptocurrency legislation, particularly noteworthy given the historically cautious stance of Democratic lawmakers towards digital assets.
The Florida bill’s architects have shrewdly positioned Bitcoin alongside traditional inflation hedges, drawing parallels with investment strategies employed by financial behemoths BlackRock and Franklin Templeton. Representative Webster Barnaby, the bill’s champion, envisions this initiative as Florida’s springboard to digital finance leadership.
Safeguarding public funds
Both states have incorporated robust custody protocols into their respective bills. New Hampshire’s legislation mandates direct state custody through secure storage, qualified custodian services, or registered exchange-traded products. The bill also contemplates lending and staking activities, provided they maintain state ownership and employ approved third-party solutions.
This legislative momentum places New Hampshire in an elite group of American states, joining Arizona, Oklahoma, and Texas in passing such measures through one legislative chamber. The development suggests a growing recognition of cryptocurrency’s potential role in public finance, despite its notorious volatility.