New Hampshire has made history by becoming the first state in the United States to create a government-backed cryptocurrency reserve. The move came after the state legislature approved a new bill, HB 302, which allows the state treasurer to invest in digital assets and precious metals. Governor Kelly Ayotte signed the bill into law on May 6, 2025, making it official. The law will go into effect in 60 days. This development sets New Hampshire apart from other states and even the federal government, which has not yet made similar commitments to acquiring digital assets for reserve purposes.
Governor Ayotte shared the news on social media, stating, “New Hampshire is once again First in the Nation!” Her statement referred to the bill’s passage and the state’s decision to authorize investment in modern and alternative stores of value. Under the new law, up to five percent of New Hampshire’s public funds may be invested in digital assets and precious metals. However, when it comes to cryptocurrencies, only those with a market capitalization above $500 billion are allowed. At present, this condition applies only to bitcoin, which continues to hold the top position in terms of market value.
The bill permits the state treasurer to manage the digital assets through a secure custody system or an exchange-traded product. The aim is to hold these reserves safely while diversifying the state’s financial portfolio. Supporters of the bill argue that this step will help protect New Hampshire’s public funds from inflation and instability in traditional banking systems. They believe cryptocurrencies like bitcoin could serve as a long-term hedge against economic uncertainty, especially when backed by secure storage practices.
This move comes at a time when national efforts to create a federal crypto reserve have stalled. Although former President Donald Trump signed an executive order calling for the formation of a national bitcoin reserve, the federal plan only included bitcoin already held by the government. It did not authorize new purchases or investments, leading some to believe that the federal policy lacks the strength to keep pace with changes in the digital asset market.
Meanwhile, other states have tried but failed to move forward with similar legislation. Bills in Montana, Wyoming, North Dakota, and Pennsylvania did not pass, and Florida recently dropped its proposed bill. New Hampshire’s success in establishing a reserve stands in contrast to these stalled efforts and may encourage other states to consider similar measures. Some experts and crypto supporters argue that if more jurisdictions follow New Hampshire’s lead, it could increase demand for bitcoin and influence prices on a larger scale.
At the time of this announcement, bitcoin was trading around $94,800, showing little movement despite the news. Still, New Hampshire’s decision marks a new chapter in the discussion around digital currencies and state-level financial policy.
