Thomas Daniels
Representative Keith Ammon’s ground-breaking bill would establish New Hampshire as a leader in the adoption of cryptocurrencies. The proposed law would permit the state treasury to retain Bitcoin (BTC) in addition to more conventional stores of value like gold, silver, and platinum as a reserve asset.
In light of the increasing demand for reliable infrastructure as digital assets become more widely accepted, the bill proposes the use of “secure custody solutions” to guarantee the security of Bitcoin holdings. If approved, New Hampshire might overtake other states like Texas and Ohio that have comparable goals in terms of state-controlled Bitcoin reserves.
Notably, both state and federal governments are now supporting the idea of Bitcoin reserves. Using the federal government’s current 207,000 BTC holdings, former President Donald Trump’s 2024 campaign strongly backed the creation of a national Bitcoin stockpile. Proponents of government-held BTC reserves include Senator Cynthia Lummis.
The usage of Bitcoin is clearly on the rise worldwide. Countries like Poland and Brazil are looking considering incorporating Bitcoin into their national treasuries. More jurisdictions are anticipated to follow suit as 2025 gets underway, which might be a turning point for Bitcoin’s role in public finance.
