• New Hampshire leads the U.S. by passing a law to create a strategic Bitcoin reserve limited to top-tier digital assets only.
• State and federal efforts to build Bitcoin reserves reflect rising interest in crypto as a hedge against inflation and financial instability.
• Legislative momentum on Bitcoin reserves faces mixed results nationwide despite growing support from lawmakers and financial advocates.

According to Elearnor Terrett, New Hampshire made history today as the first U.S. state to legalize a strategic Bitcoin reserve. On May 6, the state officially signed House Bill 302 into law, enabling its treasury to invest in Bitcoin and other major digital assets. The move authorizes the treasurer to purchase Bitcoin directly or via an exchange-traded product (ETP). In addition, the bill limits crypto investments to those having a market capitalization of more than $500 billion, effectively excluding altcoins and memecoins.

The bill passed both the House and Senate, reflecting growing bipartisan interest in digital assets. State Senator Keith Ayotte confirmed the move on social media, announcing that the treasury could now invest in both cryptocurrencies and precious metals. Consequently, the “Live Free or Die” state has become a pioneer in integrating digital assets into state financial strategies.

Rising Momentum in State-Level Bitcoin Legislation

Moreover, New Hampshire's action arrives amid growing national momentum toward similar crypto reserve policies. Other states like Arizona and Florida have explored related initiatives. However, Arizona’s proposal faced a setback after Governor Katie Hobbs issued a veto on May 2. Florida withdrew its crypto reserve bills from legislative consideration just one day later.

Besides state-level action, the federal government has also shown interest in establishing a Bitcoin reserve. In March, former President Donald Trump signed an executive order to create a "Digital Asset Stockpile" and a "Strategic Bitcoin Reserve." Senator Cynthia Lummis introduced the BITCOIN Act to facilitate federal-level crypto accumulation. The bill suggests using forfeiture seizures to grow U.S. Bitcoin holdings, potentially exceeding one million BTC.

Mixed Legislative Progress Across the U.S.

However, despite some progress, several states have struggled to gain traction. By March, legislative efforts in Montana, Wyoming, North Dakota, and Pennsylvania had stalled. Florida's withdrawal marks the latest halt in crypto-focused legislation at the state level.

Nevertheless, proponents argue that building a reserve could serve as a hedge against economic uncertainty. Additionally, they believe U.S. government support could prompt global adoption and price appreciation. Currently, Bitcoin remains stable around $94,800, despite the surge in legislative attention.

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