New Hampshire becomes first state to authorize Bitcoin and crypto investments

New Hampshire has become the first U.S. state to authorize its treasurer to invest public funds in Bitcoin and other digital assets, marking a significant milestone for crypto policy at the state level.

Governor Kelly Ayotte signed House Bill 302 into law, stating on X, “New Hampshire is once again first in the nation,” celebrating the move to permit investments in both cryptocurrency and precious metals. 

The legislation permits up to 10% of the state’s general fund and other authorized pools to be allocated into eligible assets, with strict eligibility criteria.

To qualify, digital assets must exceed a $500 billion market capitalization, effectively limiting current eligibility to Bitcoin (BTC). 

The bill includes provisions for secure custody via state management, regulated custodians, or exchange-traded products.

State-led crypto investment

The law faced both support and criticism during its legislative journey. Republican Rep. Jordan Ulery praised its potential to generate significant returns for the state, while Democratic Rep. Terry Spahr warned of risks to financial security.

HB302 passed narrowly in the House and received strong support in Senate committee votes before reaching Governor Ayotte’s desk. Its passage positions New Hampshire as a leader among states exploring the integration of digital assets into government finance strategies.

The move comes as interest in Bitcoin grows nationwide. States like Texas and Arizona have advanced similar legislation, though none have finalized laws enabling state-level crypto investment.