New Hampshire has approved the nation's first state-level strategic Bitcoin reserve law.

New Hampshire has enacted the first state-level strategic BTC reserve law in the United States, establishing a framework for allocating a portion of state funds to BTC and certain selected digital assets.

On May 6, Governor Kelly Ayotte signed House Bill 302 (HB 302), authorizing the state's treasurer to hold BTC in a regulated reserve structure. This pilot policy was developed by the non-profit organization Satoshi Action Fund, aimed at formally establishing BTC as a financial reserve asset for the state government.

The bill was introduced by Representative Keith Ammon (Republican, R-Hillsborough 40th district) and was initially proposed in 2022, gaining support from Majority Leader Jason Osborne, the New Hampshire Blockchain Committee, and other local supporters for its passage.

The law allows the Minister of Finance to purchase BTC and other digital assets with a market value exceeding $500 billion, and currently, only BTC meets this standard.

The holding limit is 5% of the state reserve portfolio and must be secured by a custodial arrangement regulated by the United States.

Ayotte confirmed the signing of the bill on social media, stating: "New Hampshire is leading the nation once again! Just signed a new law allowing our state to invest in digital assets and precious metals."

Republican members of the New Hampshire House echoed the governor's remarks, stating that "No liberty, better dead" the state is leading the future development direction of business and digital assets.

These assets will be held by state-controlled multi-signature schemes, qualified custodians, or exchange-traded products based in the United States to ensure compliance and transparency. The regulation will take effect 60 days after its promulgation.

Dennis Porter, the CEO of the Satoshi Action Fund, also issued a statement saying that House Bill 302 is a blueprint for nationwide adoption.

The Growing Movement

With the approval of the bill, New Hampshire has become the first state in the United States to enact legislation to establish a strategic BTC reserve.

According to the data from BTC Laws, 37 out of the 50 states in the United States have proposed similar legislative proposals, but so far, most of the proposals have not been passed. The remaining 13 states have not submitted legislative proposals regarding state-level BTC reserves.

The Satoshi Action Fund has drafted more than 20 similar bills nationwide and has been advocating for the establishment of a BTC-based reserve to achieve diversification of fiscal strategy.

The organization reports that it has so far assisted in the passage of six state-level laws supporting BTC, and claims to have facilitated over 220,000 voter letters in support of such initiatives nationwide.

House Bill 302 makes New Hampshire a test case for broader state-level BTC adoption.

Strategic BTC Reserve Competition

According to the "BTC Law" state reserve competition tracker, Arizona is the most likely to become the second state to enact a strategic BTC reserve bill.

On May 1, the Senate majority proposed to agree to the House's amendment to Senate Bill 1373 (SB 1373) from Arizona. The Senate will now send the bill to the House for consideration, after which it may be sent to the governor for signing.

North Carolina and Texas follow closely behind, with their crypto asset reserve proposal currently submitted for a second review by the Senate committee.

By establishing a legal reserve policy and setting operational parameters, New Hampshire has become the first state in the U.S. to launch an executable framework for holding BTC in public finance accounts.