Efforts to establish state-owned Bitcoin reserves are gaining momentum in the United States, with Florida and New Hampshire making notable progress this week.
On April 10, New Hampshire’s House of Representatives narrowly approved House Bill 302 (HB 302) with a 192-179 vote. The bill, which had previously passed the Commerce and Consumer Affairs Committee, now moves to the state Senate. If approved, it will be sent to Governor Kelly Ayotte for final endorsement. HB 302 authorizes the state treasurer to allocate up to 10% of state funds into digital assets and precious metals but imposes strict criteria. Only cryptocurrencies with a market capitalization of at least $500 billion, like Bitcoin, qualify for investment. The bill also sets guidelines for asset custody and allows lending or staking, provided the state maintains ownership.
This development makes New Hampshire the fourth state to pass such legislation in one chamber, following Arizona, Oklahoma, and Texas.
In Florida, the Strategic Bitcoin Reserve bill (HB 487) advanced as the Insurance and Banking Subcommittee unanimously approved it, marking a rare instance of bipartisan support. The bill, now moving to the House floor, treats Bitcoin as a hedge against inflation, aligning with views held by major institutions like BlackRock and Franklin Templeton. Representative Webster Barnaby, the bill’s sponsor, believes this initiative could position Florida as a leader in digital finance. The proposal includes detailed custody guidelines and permits investments through direct purchase or regulated investment products.
These advancements in New Hampshire and Florida reflect a growing trend towards state-owned Bitcoin reserves in the U.S.
