New Hampshire’s Bitcoin reserve bill, House Bill 302, has passed the state’s House of Representatives. It becomes the fourth state to advance such legislation.

The vote on 10 April was 192-179 in favour of the bill, following a 16-1 vote by the House Commerce and Consumer Affairs Committee in March. The bill now moves to the Senate for further debate before potentially being signed by Governor Kelly Ayotte.

If approved, HB302 would allow the state treasurer to allocate up to 10% of New Hampshire’s general fund and other approved funds into digital assets. It would also cover Bitcoin and precious metals like gold, silver, and platinum.

To qualify for the reserve, a cryptocurrency must have a market capitalisation of at least $500 billion, a threshold currently met only by Bitcoin.

Supporters of the bill argue it could provide new revenue streams and diversify state finances. Republican Representative Jordan Ulery said it could generate significant earnings for the state through strategic investments in assets like Bitcoin.

Meanwhile, New Hampshire is also reviewing other blockchain-related proposals, including bills on stablecoins and broader blockchain regulations.

For more information on these topics, visit diplomacy.edu.