Two U.S. states—New Hampshire and Florida—have taken notable steps toward incorporating Bitcoin as part of their financial reserves, signaling increased legislative interest in digital assets. Both states are advancing bills that would grant financial officials the authority to allocate a portion of state funds into Bitcoin under specific conditions.
New Hampshire Advances Bitcoin Bill
On April 10, New Hampshire’s House passed House Bill 302 in a narrow 192–179 vote. This proposal permits the state treasurer to invest up to 10% of designated state funds—including the general fund—into precious metals and certain digital assets. However, only cryptocurrencies with a market capitalization exceeding $500 billion are eligible, effectively limiting the scope to Bitcoin.
The bill is now headed to the state Senate. If it passes there, it will require approval from the Governor before becoming law. New Hampshire joins the ranks of Arizona, Texas, and Oklahoma, where similar bills have passed one legislative chamber.
Florida Committee Unanimously Approves Bitcoin Proposal
Florida’s House Insurance and Banking Committee unanimously approved House Bill 487. This legislation would authorize the state’s chief financial officer and State Board of Administration to allocate up to 10% of certain state funds into Bitcoin. Key elements of the bill include:
- Approval for direct holding of Bitcoin or through regulated exchange-traded products
- Defined custody requirements to ensure secure asset management
This bill must still pass two additional committee votes before making its way to the full House floor.
Wider Implications and Trends
These legislative developments are part of a growing pattern of U.S. states exploring the use of Bitcoin as a strategic reserve asset. Several bills concerning digital reserves are progressing through legislative bodies across the country, reflecting increased interest in integrating digital currencies into public finance management.
For further details, view the original article on Cointelegraph.
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