State legislatures in New Hampshire and Florida are taking notable steps toward integrating Bitcoin into public investments, as recent bills advancing through their respective chambers highlight an increasing appetite to diversify state reserves with digital assets.
New Hampshire Pushes Forward With HB302
On April 10, the New Hampshire House of Representatives narrowly passed HB302 with a 192–179 vote. This legislation, if passed by the Senate, would allow the state’s treasurer to invest up to 10% of state-held funds—such as from the general fund—into eligible assets, including:
- Precious metals
- Cryptocurrencies meeting specific criteria
One key requirement is that digital assets must have a market capitalization exceeding $500 billion, currently making Bitcoin the only eligible cryptocurrency.
Additionally, HB302 emphasizes secure custody solutions for handling crypto investments. The legislature is also examining related proposals, like:
- HB310 – Addressing stablecoin regulation
- HB639 – Covering broader blockchain governance
Florida Advances HB487
On the same day, Florida’s House Insurance and Banking Committee unanimously approved HB487, a bill that would permit the state to allocate up to 10% of certain funds—including the General Revenue and Budget Stabilization Funds—into Bitcoin. The bill offers flexibility in how funds can be invested, including:
- Direct Bitcoin purchases
- Cryptocurrency funds or custodians
- Exchange-traded crypto products
HB487 outlines security and custody frameworks, but must pass through three more committees before proceeding to a full House vote.
National Momentum Builds
New Hampshire now joins Arizona, Texas, and Oklahoma as one of the few states where a Bitcoin reserve bill has made it through at least one legislative chamber. Notably, Arizona is leading the way, with two such bills ready for a House vote. These developments reflect a national trend of states exploring Bitcoin investments as a hedge or diversification tool for public funds.
As state-level debates around the viability and risk of digital asset investments continue, more jurisdictions may consider similar legislative efforts in the future.
For more details, read the full article on TradingView.
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