Key Points
- Rep. Keith Ammon introduces a bill for New Hampshire’s treasury to hold Bitcoin as a reserve asset.
- Other states and countries are also considering similar measures for Bitcoin reserves.
Republican Representative Keith Ammon has proposed a new bill that could potentially allow New Hampshire’s treasury to hold Bitcoin as a reserve asset.
The proposed legislation would pave the way for the state’s treasury to hold Bitcoin alongside traditional assets such as gold, silver, and platinum.
Secure Custody Solutions
Rep. Ammon’s bill includes provisions for secure custody solutions to protect New Hampshire’s potential Bitcoin holdings. This implies that even states may require a crypto wallet as cryptocurrency adoption continues to rise.
If the bill is passed, New Hampshire could become a trailblazer in the push for state-controlled Bitcoin reserves. However, it may face competition from other states contemplating similar measures.
States and Bitcoin Reserves
It has been reported that Texas, Ohio, and about 10 other U.S. states have considered legislation for Bitcoin treasury. Some federal lawmakers, such as Cynthia Lummis, have also proposed a Bitcoin reserve at the federal level.
The concept of a U.S.-based Bitcoin reserve gained traction last year, partly due to former President Donald Trump’s effort to appeal to the cryptocurrency voting bloc. Trump promised to position the U.S. as a global leader in cryptocurrency and suggested creating a Bitcoin reserve from the government’s existing Bitcoin holdings.
Now, less than two weeks into 2025, predictions that more jurisdictions would adopt Bitcoin reserves are beginning to come true. Besides U.S. states, countries like Brazil and Poland are also exploring the idea of holding Bitcoin in their national treasuries.