New Hampshire, the first U.S. state to enact a Bitcoin preparation law, to be implemented in July following the governor's signature.

Table of Contents* 1. The first state-level Bitcoin preparedness law in the United States will be enacted.

• 2. New Hampshire is set to start managing Bitcoin assets.

• 2.1. Asset Management and Storage Methods
• 2.2. Expectations and Challenges for BTC Operations After the Bill is Passed

• 3. Competition in the Americas over the Bitcoin Preparation Bill

• 3.1. Spread to Other States and Intensification of Competition
• 3.2. Current Status of Bitcoin Preparedness Bills in Various States of the U.S.

The first state-level Bitcoin reserve law in the United States is set to be implemented.

On May 6, 2025, Governor Kelly Ayotte of New Hampshire, USA, signed the "Bitcoin Reserve Bill (HB302)", officially enacting the bill.

As a result, New Hampshire has become the first state in the United States to establish a "Bitcoin Reserve" system that manages state public funds in cryptocurrencies such as Bitcoin (BTC).

Governor Ayotte stated on her X (Twitter) after signing that "New Hampshire has once again taken the lead in the nation," reporting the establishment of a new law that enables investment in cryptocurrencies (digital assets) and precious metals.

New Hampshire is once again First in the Nation! 🎉

Just signed a new law allowing our state to invest in cryptocurrency and precious metals. pic.twitter.com/ua9bawZKbM

— Governor Kelly Ayotte (@KellyAyotte) May 6, 2025

New Hampshire is once again the "first in the nation" 🎉

I signed a new law allowing our state to invest in cryptocurrencies and precious metals.

The bill was narrowly passed in the state assembly's lower house on April 10 with 192 votes in favor and 179 against, and it was also approved by the upper house on May 1. With the governor's signature, the law has been established, and the effective date is expected to be in early July this year, 60 days after the date of the signature.

New Hampshire to Start Bitcoin Asset Management

The HB302 that was established this time is a law that allows the New Hampshire Department of Treasury to invest part of the state's funds in Bitcoin and precious metals.

The law permits investments in virtual currencies with a market capitalization of over $500 billion (approximately 71.6 trillion yen) (currently only Bitcoin qualifies) and physical assets such as gold and silver, effectively allowing for the holding of "Bitcoin reserves."

Asset management and storage methods

The state treasurer is required to choose between the direct management of acquired digital assets such as Bitcoin in a secure manner, depositing them with an authorized custody (asset management) provider, or holding them as regulated investment trust products within the United States.

This measure is aimed at ensuring transparency and asset protection for taxpayers, and the law is evaluated as "diversifying state reserves and preparing for the future while utilizing Bitcoin, which is a high-security financial network."

Expectations and Challenges for BTC Operations After the Bill is Enacted

The balance of the major fund managed by the New Hampshire Department of Treasury is approximately $3.62 billion (about ¥518 billion) as of the end of 2024. If 5% of that, approximately $180 million (about ¥25.8 billion), is invested in Bitcoin, it would result in holding about 1,200 BTC.

Republican state representative Keith Amon, the bill's sponsor, stated that "it will help protect state assets from inflation caused by excessive currency issuance by the federal government by embracing financial innovation," asserting that this law is part of the state's inflation measures and diversified investment.

Dennis Porter, who leads the Bitcoin advocacy group "Satoshi Action Fund," stated, "New Hampshire has set an example for the nation. HB302 has proven that it can protect taxpayers' funds while diversifying reserves, allowing the state's finances to prepare for the future," and welcomed the recent passage.

On the other hand, during the deliberation of the bill, concerns were also expressed, mainly by Democratic Party members, regarding "the risks of price fluctuations in virtual currencies and issues related to management."

Competition in the Americas over the Bitcoin Preparation Bill

Spread to other states and intensifying competition

The recent decision in New Hampshire is expected to have a significant impact on other states.

According to the Satoshi Action Fund involved in the formulation of this model law, more than 20 states in the U.S. have already proposed similar "Bitcoin reserve" bills since the beginning of this year, and each state has been engaged in what can be described as a competition for the "reserve bill legislative race."

New Hampshire has won this competition and became the first state to be established in the United States, but movements in other states have not necessarily progressed smoothly.

The current status of Bitcoin preparedness legislation in various US states.

Although a similar bill passed through the state legislature in Arizona, Governor Katie Hobbs exercised her veto power on May 3, and it did not come into effect.

Although it was deliberated in the Senate committee in Oklahoma, it was defeated by a narrow margin of just one vote. Additionally, Florida was initially seen as a strong candidate, but it ended up being withdrawn after the bill was submitted.

Meanwhile, in North Carolina, discussions are still ongoing under the leadership of influential lawmakers, leaving open the possibility of becoming the second state to establish it.

The recent establishment of the new law in New Hampshire can be said to be a groundbreaking case in which local governments have officially begun to utilize Bitcoin amid this trend both domestically and internationally.

*The price is converted at the rate at the time of writing (1 dollar = 143.17 yen)

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Source: Bill "HB302"

Writing and Translation: BITTIMES Editorial Department

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