New Hampshire’s exploration of incorporating digital assets into state treasury management advanced significantly this week. House Bill 302, a measure permitting state investment in Bitcoin and precious metals, successfully passed its second Senate committee review.
Introduced early in the year, this potential Bitcoin reserve bill has now navigated four key legislative hurdles. It initially gained approval with a 16–1 vote in the House Commerce and Consumer Affairs Committee. Subsequently, it passed the full House on April 10, albeit by a slim 192–179 margin. Following its referral to the Senate, the bill underwent review by a second committee, receiving a favorable 4–1 recommendation on April 23. The legislation now awaits a decisive vote on the full Senate floor.
Source: Legislative Tracking Data
HB302 outlines provisions allowing the state treasurer to allocate up to 10% of general fund public monies and other approved funds into precious metals. It also includes select digital assets possessing a market capitalization over $500 billion – a criterion currently satisfied only by Bitcoin. The bill addresses secure asset storage through direct state management, qualified custodians, or exchange-traded products.
The proposal has generated considerable discussion within the state legislature. Prior to the House vote, Democratic Representative Terry Spahr voiced concerns, labeling the move unnecessary and potentially risky for the long-term stability of state digital asset holdings. Conversely, Republican Representative Jordan Ulery championed the bill, highlighting the “potential for a large amount of money being earned by the state through these investments.”
As cryptocurrency adoption becomes an increasing focus for lawmakers nationwide, New Hampshire’s progress with HB302 signals a wider pattern of state-level experimentation with digital asset policy. The state is also evaluating other blockchain-focused legislation, including HB310 (addressing stablecoins and tokenized assets) and HB639 (concerning blockchain regulation).
According to legislative tracking services monitoring Bitcoin reserve initiatives across the US, should HB302 become law, New Hampshire would join Arizona and Texas as the third state to have such a bill approved by at least one full legislative chamber.
Source: Legislative Tracking Data