New Hampshire Goes Full Hodl: First US State to Legalize Bitcoin Reserves

Move over, Fort Knox—New Hampshire just rewrote the playbook on state treasury management. The Granite State quietly passed legislation authorizing a Strategic Bitcoin Reserve, making it the first in the US to treat BTC like monetary gold.

Why it matters: While DC debates crypto regulation, states are pulling an end-run around federal inertia. New Hampshire’s move could trigger a domino effect—especially among mining-friendly states sitting on energy surpluses.

The fine print: No word yet on allocation size or custody details (we’re guessing they won’t be storing keys on an Excel spreadsheet). One thing’s certain: Wall Street’s ’too risky’ chorus just lost another talking point.

Bonus jab: Meanwhile, legacy finance still can’t decide if Bitcoin is a scam or their next revenue stream—classic ’can’t-beat-them-might-join-them’ energy.

Growing movement

With this approval, New Hampshire becomes the first US state to enact legislation establishing a Strategic Bitcoin Reserve. 

According to Bitcoin Laws, 37 of 50 states have introduced similar legislative proposals, but most proposals have faltered so far. The remaining 13 states have yet to file legislation regarding state-level Bitcoin reserves.

Satoshi Action Fund drafted more than 20 similar bills nationwide and has advocated for Bitcoin-based reserves to diversify treasury strategies. 

The organization reported having supported the passage of six pro-Bitcoin state laws to date and claims more than 220,000 constituent letters have been generated to support such initiatives nationwide.

HB 302 positions New Hampshire as the test case for broader state-level Bitcoin adoption.

SBR race

According to the “State Reserve Race” tracker from Bitcoin Laws, Arizona is the best contender for a second Strategic Bitcoin Reserve bill enacted as law.

On May 1, the Senate majoritywith the House amendments to Arizona’s SB 1373. The Senate will now transmit the bill for review by the House chamber, which could then go to the governor’s desk.

North Carolina and Texas are trailing right behind, with their crypto reserves proposals currently being presented to the Senate committee for a second review.

By establishing a legal reserve policy and setting operational parameters, New Hampshire has introduced the first enforceable framework for holding Bitcoin in public treasury accounts in the US.