New Hampshire Legislation Establishes Bitcoin as State Reserve Currency, Marking a US First
woodyoubelieveit:😮 New Hampshire becomes the trailblazer in the U.S., signing House Bill 302 into law, giving their treasury permission to invest in cryptocurrency and precious metals! 🤪
"Freedom or Die, baby!" shouted the governor, Kelly Ayotte, on the day she signed the law. 🎉
S Sixty days from now, the state will start stockpiling Bitcoin! The asset jumped from $94,000 to an intraday high of $97,500, and it's thought that the positive news on the US-China tariff front played a role in its surge. 📈
The bill permits New Hampshire's state Treasurer to purchase Bitcoin and other digital assets with a market cap above $500 billion. However, right now, only Bitcoin meets this criterion, as Ethereum, the next largest contender, has a much lower market cap of $220 billion. 💰
The treasury can only invest up to 5% of the total state funds to maintain a balanced strategy. All assets must be securely stored in US-regulated custody, either through state-controlled multisig wallets, qualified custodians, or exchange-traded products. 🔒
The legislation aims to diversify state reserves while maintaining fiscal responsibility and transparency. 📊
"Go New Hampshire!" cheered New Hampshire Republicans on Twitter. They think the state is pioneering the future of commerce and digital assets. 🌟
The bill is inspired by Satoshi Action's policy framework, which has also supported six pro-Bitcoin laws and over 20 similar bills in other states. 📝
Unfortunately, neighboring states Florida and Arizona took a step back recently. 🙅♂️ Florida's legislature dropped two similar crypto investment bills, while Arizona Governor Katie Hobbs vetoed a similar bill, labeling digital assets "untested investments."
However, Arizona still has a chance, as similar legislation, HB 1371, hasn't reached a final vote yet. But it seems unlikely that the governor's opinion will change in such a short period. 🕒
Other states like Oregon and Arizona are also advancing legislation that recognizes and facilitates blockchain and cryptocurrency integration into their financial and legal systems. Meanwhile, Wisconsin and Michigan are showing practical moves towards crypto investment within their public funds. 🌐
So hang on tight, folks - it's gonna be a wild ride as more states jump on the crypto bandwagon! 🚀 #cryptocurrency #investing #NewHampshire #Bitcoin #FutureOfMoney
"The state of New Hampshire, with its newfound permission to invest in cryptocurrency and precious metals, is set to start stockpiling Bitcoin in the coming days. As the treasury purchases Bitcoin and other digital assets with a market cap exceeding $500 billion, only Bitcoin currently fits the criteria, with Ethereum lagging far behind at a market cap of $220 billion.
The legislation aims to diversify state reserves while maintaining fiscal responsibility and transparency. All assets will be securely stored in US-regulated custody, ensuring their protection.
Meanwhile, neighboring states like Arizona and Florida have taken a step back, with Arizona still hoping for a change of heart towards similar legislation, HB 1371. However, other states like Oregon and Wisconsin are also showing interest in blockchain and cryptocurrency integration, likely setting the stage for a nationwide trend.
This wave of cryptocurrency interest and investment in the United States, led by New Hampshire, is poised to revolutionize the future of commerce, digital assets, and finance."
