Bitcoin Reserve Bill Advances in New Hampshire: Set for House Vote

The New Hampshire House Commerce Committee has approved the Bitcoin Reserve Bill (HB302) with a resounding 16-1 vote. This development propels the bill to a full House vote.

This decision makes New Hampshire the seventh U.S. state to bring a Bitcoin-related bill to a House vote. If passed, the state treasurer will be authorized to allocate up to 5% of general funds and revenue stabilization funds into digital assets.

While the bill does not specify particular assets, it only includes digital assets that have exceeded a market capitalization of $500 billion in the past year. Currently, Bitcoin (BTC) is the only asset meeting this criterion.

Additionally, the bill mandates that acquired digital assets must be held with a qualified custodian or in exchange-traded products (ETPs). Investments in precious metals such as gold, silver, and platinum are also permitted under the proposed legislation.

Bitcoin Bill Revised: Stablecoin and Staking Excluded

The bill was introduced on January 10 by Republican Representative Keith Ammon and co-sponsored by Democratic Representatives Chris McAleer and Kerry Spier. During the March 5 House Committee meeting, Ammon announced that the bill had been amended to exclude stablecoin and staking investments.

Initially, the bill allowed for a maximum of 10% investment in digital assets, but following discussions, this figure was reduced to 5%.

Meanwhile, New Hampshire joins North Carolina, Oklahoma, and Texas in awaiting a House vote. Separately, two bills in Utah and Arizona have already passed their respective House votes.

This wave of state-level legislation follows President Donald Trump’s March 2 announcement of a strategic reserve plan for cryptocurrencies, including Bitcoin, Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA).

Commenting on the development, Bitwise Chief Investment Officer Matt Hougan predicted that the reserve plan would likely be composed largely of Bitcoin.

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