New Hampshire Goes Full Bitcoin: First State to Hoard Crypto as Strategic Reserve
Move over, gold—New Hampshire just rewrote the playbook on state reserves. In a bold middle finger to monetary tradition, the Granite State announced plans to stockpile Bitcoin as part of its long-term treasury strategy. No more waiting for Wall Street’s permission.
The breakdown:
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Cold storage warfare
: State officials confirmed offline wallets will hold the BTC, citing ’superior inflation resistance’ compared to dollar reserves. Take that, Federal Reserve printers.
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Mining for freedom
: Early talks include using excess hydro power for local Bitcoin mining ops—because why let China dominate the hash rate?
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Tax rebellion
: Legislation already in motion to let residents pay fees in BTC. Next target? Eliminating capital gains taxes on crypto-to-crypto trades.
Meanwhile in DC: Treasury Secretary reportedly choked on her latte reading the news. Jokes aside—this could spark a chain reaction of states bypassing the broken dollar system. Or it’ll crash and burn spectacularly. Either way, Wall Street’s spreadsheet jockeys just got schooled in real disruption.
New Bitcoin Reserve Legislation
Governor Kelly Ayotte announced the decision on social media X (formerly Twitter) on Tuesday, stating, “New Hampshire is once again First in the Nation!” This new legislation allows the state to invest up to 5% of its public funds into precious metals and digital assets, including Bitcoin.
The bill, known as “HB 302,” positions New Hampshire ahead of federal efforts to establish a national Bitcoin reserve. While the Trump administration proposed a reserve that would utilize existing government-owned Bitcoin, it failed to promise additional purchases.
In contrast, New Hampshire’s legislation reflects a proactive approach, aligning with advocates who believe that stockpiling BTC can serve as a hedge against inflation and financial instability.
Crypto Reserve Bills Stall In Multiple States
Bitcoin enthusiasts have long advocated for both federal and state governments to accumulate the cryptocurrency, arguing that doing so could stabilize the economy and enhance the asset’s value.
The recent passage of the crypto reserve bill not only marks a significant achievement for New Hampshire but also underscores the state’s commitment to embracing innovative financial solutions.
Conversely, bills aimed at establishing crypto reserves have stalled in jurisdictions such as Montana, Wyoming, North Dakota, and Pennsylvania. Florida also recently withdrew its own reserve bill.
At the time of writing, BTC trades at $95,100, attempting to establish this level as key support for a potential move toward the $100,000 milestone, the cryptocurrency’s most important resistance wall.
Featured image from DALL-E, chart from TradingView.com
