House Committee Approves New Hampshire's Digital Asset Investment Bill - Blockonomi
by Oliver Dale · BlockonomiTLDR
Table of Contents
- New Hampshire’s Bitcoin reserve bill (HB302) passed House committee with a 16-1 vote on March 5, 2025
- The bill would allow the state treasurer to invest up to 5% from various funds in digital assets with $500B+ market cap (currently only Bitcoin qualifies)
- The bill was amended from 10% to 5% allocation and removed stablecoins and staking options
- The assets must be held by qualified custodians or as exchange-traded products
- Six other US states have similar Bitcoin bills advancing through their legislatures
New Hampshire has taken a step toward potentially becoming one of the first states to establish a Bitcoin reserve. On March 5, 2025, the state’s House Commerce and Consumer Affairs Committee voted 16-1 to advance House Bill 302, which would allow the state treasurer to invest in Bitcoin and precious metals.
The bill, introduced by Republican Keith Ammon in January, now moves to the full House for consideration. It represents part of a growing trend of state-level initiatives aimed at incorporating digital assets into government treasury strategies.
HB302 would permit New Hampshire’s treasurer to invest up to 5% from the state’s general fund, revenue stabilization fund, or other authorized funds into qualifying digital assets. The bill sets strict criteria for eligible assets.
To qualify for investment, a digital asset must maintain an average market capitalization of at least $500 billion over the previous calendar year. This requirement currently limits eligible investments to Bitcoin only, as it is the sole cryptocurrency with a market cap exceeding this threshold.
The bill underwent several amendments during committee review. Initially, the proposal allowed for up to 10% allocation to digital assets and included provisions for stablecoins and staking options.
These elements were removed in the final committee version. The allocation percentage was reduced to 5% to create a more conservative approach to state investment in this emerging asset class.
HB302 also includes authorization for investment in traditional precious metals. The treasurer would be permitted to allocate funds to gold, silver, and platinum alongside digital assets.
Any digital assets acquired through this program would be subject to strict custody requirements. The bill mandates that investments must be held by qualified custodians or in the form of exchange-traded products to ensure proper security and oversight.
During the committee session, Representative Ammon noted that New Hampshire Treasurer Monica Mezzapelle has expressed interest in potentially utilizing these investment options if the bill becomes law. This suggests possible support from the office that would implement the policy.
Other States
New Hampshire joins several other states advancing similar legislation. According to Bitcoin Laws, seven US states now have Bitcoin-related bills that have reached their respective Houses for consideration.
North Carolina, Oklahoma, and Texas are at similar stages in their legislative processes. Utah and Arizona have progressed even further, with their bills having already passed House votes.
This state-level momentum comes amid increasing federal attention to cryptocurrency policy. US President Donald Trump recently announced plans for a national Crypto Strategic Reserve that would include Bitcoin, Ethereum, XRP, Solana, and Cardano.
Industry experts suggest Bitcoin would likely comprise the majority of any federal reserve strategy. Bitwise’s chief investment officer Matt Hougan stated on March 5 that such a reserve would be made up “almost entirely of Bitcoin.”
Utah appears to be leading the state-level push for Bitcoin legislation. On February 21, the state’s Senate Revenue and Taxation Committee approved the Blockchain and Digital Innovation Amendments bill (HB230) with a 4-2-1 vote.
The New Hampshire bill was co-sponsored by Democrats Chris McAleer and Carry Spier alongside Republican Keith Ammon. This bipartisan support may improve its chances of success in the full House vote.
If HB302 passes the House, it will undergo additional committee review before advancing to the Senate for final consideration. The timeline for this process remains uncertain, but the strong committee vote suggests momentum behind the proposal.
Crypto Summit
President Trump is expected to provide more details about federal cryptocurrency plans at the White House Crypto Summit on March 7. His recent social media posts have indicated the federal reserve strategy could include multiple cryptocurrencies beyond just Bitcoin.
The legislative push at both state and federal levels reflects growing interest in cryptocurrency as a potential reserve asset. These initiatives come as Bitcoin’s price has shown high volatility in recent months amid speculation about government adoption.