What are the highlights of the New Hampshire Bitcoin Reserves Act? Will it trigger the states to follow suit?

Author: Deng Tong, Golden Finance

The history of crypto bills welcomes a new chapter. Is the move in New Hampshire, USA, "Is this family in the end, nothing else?" or "The fire is set on the prairie, and it cannot be turned to the nearest?"

On May 6, New Hampshire Governor Kelly Ayote signed a bill passed by the state’s legislature to become the first state in the United States to allow its government to invest in cryptocurrencies such as Bitcoin. Affected by this news, the crypto market has generally risen, and BTC is even expected to try the $100,000 mark again.

As of press time, BTC was US$97,340.70, up 3.2% in 24 hours. The entire crypto market has also ushered in general growth.

How is New Hampshire’s bill different from the executive order signed by Trump? How is the process of crypto reserve bills in other states in the United States? Which countries have seen the value of BTC and held in large quantities?

New Hampshire Governor Ayote opens new chapter in the history of crypto

bills

On May 6, Ayote issued an announcement on social media announcing that New Hampshire will pass a bill passed by the state Senate and House of Representatives, allowing the state to "invest cryptocurrencies and precious metals." House Bill 302, introduced in New Hampshire in January, would allow the state's finance department to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion.

“States that are not free, rather die” are leading the future of business and digital assets,” New Hampshire Republican said in a May 6 X post.

With the signing of the bill, New Hampshire became the first of several U.S. states to consider passing legislation to establish strategic bitcoin reserves, including an initiative to work with the federal government.

What are the highlights of New Hampshire’s cryptocurrency plan?

HB 302 Act is full of highlights:

• Allow the Treasury Secretary to buy Bitcoin and top digital assets – authorized reserves to purchase Bitcoin or any digital assets with a market capitalization of more than $500 billion (currently only Bitcoin).
• 5% of the total fund is used to hold Bitcoin — ensuring that Bitcoin complements the state’s broader investment strategy.
• Authorized US regulation of robust custody – Assets must be held by qualified custodians or traded products through US exchanges to maximize security and transparency, and assets must be held by a multi-signature controlled by states.
• Effective after 60 days – a clear roadmap to activate the reserve plan.

Tracing the executive order of the strategic Bitcoin reserve and digital asset reserves signed by Trump in March this year, although this marks the formal inclusion of Bitcoin into the national strategic asset system. But judging from the market reaction, the crypto industry was not very satisfied with Trump's executive order (only forfeiture of assets and no large-scale purchases): before the news was announced, BTC soared above $95,000, but the policy fell back as soon as it was released, reaching around $84,000.

This time, New Hampshire stipulates that the state's finance department can use funds to invest in cryptocurrencies with a market value of more than $500 billion. For a moment, Bitcoin reserves achieved a huge change from confiscation, not buying directly to buying directly with real money and silver.

How is the process of crypto reserve bills in other states in the United

States?

Reports in March this year pointed out that North Carolina could use 10% of public funds to Bitcoin, aiming to build strategic reserves and use cryptocurrencies as part of its financial strategy; a similar bill in Arizona was passed in the state’s House of Representatives in April but was rejected by Gov. Katie Hobbs on May 2; and the Florida government withdrew its review of two cryptocurrency reserve bills on May 3.

Industry insiders are currently paying attention to whether New Hampshire legislation will trigger other states to follow suit.

Dennis Porter, co-founder of Satoshi Action Fund (SAF), posted on X that today, the possibility of many states in the United States passing the Strategic Bitcoin Reserve Act becoming a law has increased significantly.

How much Bitcoin do governments hold?

As BTC continues to refresh its original records, more and more countries are seeing the true value of Bitcoin and increasing holdings.

According to Coingecko statistics, as of April 2025, governments across the country held more than 463,741 bitcoins, accounting for about 2.3% of the total Bitcoin supply.

The top five BTC holding powers are: the United States, China, the United Kingdom, Bhutan and El Salvador.