On May 6, 2025, New Hampshire Governor Kelly Ayotte signed House Bill 302 (HB 302) into law, making New Hampshire the first U.S. state to authorize the investment of public funds into Bitcoin and other qualifying digital assets.

New Hampshire Governor Kelly Ayotte made a celebratory post on X, pointing out how they are the first state to enact such a law. 6.5.25

Key Provisions of HB 302

• Investment Cap: The state treasurer is permitted to invest up to 5% of public funds into eligible assets.
• Eligible Assets: Investments are limited to precious metals (gold, silver, platinum) and digital assets with a market capitalization exceeding $500 billion. Currently, only Bitcoin meets this criterion.
• Custody Requirements: Digital assets must be held through secure custody solutions, qualified custodians, or exchange-traded products approved by U.S. regulatory authorities.
• Effective Date: The law becomes effective 60 days after signing, on July 5, 2025

Data from Bitcoin Laws shows that there are currently 36 Bitcoin reserve bills that are still in progress.

Legislative Support

The bill was sponsored by several Republican legislators, including Rep. Keith Ammon, Rep. Jason Osborne, and Sen. Daryl Abbas. The Satoshi Action Fund contributed to drafting the policy framework for the bill.

The Satoshi Action Fund, a lead contributor to the bills framework followed up with an announcement alongside the enactment. Posted via X as of 6.5.25

Implications

New Hampshire's move sets a precedent for state-level investment in digital assets, potentially influencing other states to consider similar legislation.

Bitcoin laws has been keeping a close eye on the progression of BTC reserve bills on a state by state basis. On the morning of the 6th, an announcement was made of New Hampshire becoming the first US state to enact a BTC reserve of its kind.

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