In a significant development for cryptocurrency adoption at the state level, both New Hampshire and Florida have taken steps forward in establishing official Bitcoin reserves, potentially revolutionizing how state governments manage their financial assets.
New Hampshire’s Narrow Victory
On April 10, New Hampshire’s House of Representatives passed House Bill 302 (HB302) in a razor-thin 192-179 vote, making it the fourth U.S. state to pass a Bitcoin reserve bill through at least one legislative chamber. The bill now advances to the state Senate for further debate.
JUST IN: 🇺🇸 New Hampshire House passes #Bitcoin Reserve Bill.
— Bitcoin Magazine (@BitcoinMagazine) April 10, 2025
If approved and signed into law by Governor Kelly Ayotte, HB302 would authorize the state treasurer to allocate up to 10% of New Hampshire’s general fund and other approved state funds into investments in precious metals and cryptocurrencies. However, the bill includes a crucial qualification: to be eligible, digital assets must maintain a market capitalization exceeding $500 billion – a threshold that currently only Bitcoin meets.
During floor debates, Republican Representative Jordan Ulery championed the bill’s potential financial benefits, arguing it could help the state earn “a large amount of money” through strategic cryptocurrency investments. Meanwhile, Democratic Representative Terry Spahr opposed the measure, noting that the state treasurer already possesses investment authority and expressing concerns about the volatility of the cryptocurrency landscape.
Florida’s Unanimous Committee Approval
On the same day, Florida’s House Insurance and Banking Committee unanimously passed House Bill 487 (HB487), which mirrors New Hampshire’s proposal in allowing the state’s Chief Financial Officer and State Board of Administration to invest up to 10% of select funds into Bitcoin.
The Florida bill must still pass through two additional committees before it reaches the full House for a vote. Republican Representative Webster Barnaby, the bill’s sponsor, urged committee members to support the legislation, describing it as an opportunity to position Florida “in the leading edge of this very new technology.“
Like its New Hampshire counterpart, Florida’s proposal includes detailed provisions for managing digital assets, including direct investments through qualified custodians and exchange-traded products.
Also Read: Arizona Passes Bitcoin Reserve Bill
The National Landscape
According to legislative tracker Bitcoin Laws, at least 47 strategic Bitcoin reserve bills have been introduced across 26 U.S. states, with Arizona currently leading the race to become the first state to establish an official Bitcoin reserve.
Two Arizona bills—SB1373 and SB1025—have cleared the House Rules Committee and await a full floor vote. If passed, they would then need Governor Katie Hobbs’ signature to become law.
New Hampshire has joined Arizona, Texas, and Oklahoma as states that have passed Bitcoin reserve legislation through at least one legislative chamber.
New Hampshire is also considering two additional blockchain-related bills:
- HB310, exploring stablecoins and tokenized real-world assets
- HB639, addressing broader blockchain regulation and dispute resolution frameworks
Potential Impact
If New Hampshire’s bill ultimately becomes law, it could allow the state treasury to invest up to approximately $181 million in Bitcoin based on its most recent $3.6 billion treasury holdings (assuming the 5% allocation mentioned in the amended bill). At current prices around $82,000, this would equate to roughly 2,200 BTC.
These state-level initiatives come just weeks after President Donald Trump signed an executive order on March 6 establishing a Strategic Bitcoin Reserve for the United States, signaling growing mainstream acceptance of cryptocurrency as a legitimate asset class for government investment.
What’s Next?
For New Hampshire, all eyes now turn to the Senate, where HB302 will face its next challenge. The narrow margin in the House vote suggests the path ahead won’t be straightforward.
Meanwhile, Florida’s bill continues its committee journey, needing to clear two more committees before reaching the full House.
While the outcome remains uncertain, these legislative advances demonstrate that Bitcoin is rapidly moving from the fringes of finance into serious policy conversations at multiple levels of government.
Whether these bills ultimately become law or not, one thing is clear: the debate around cryptocurrencies as strategic state reserves is no longer theoretical—it’s becoming practical policy.
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