Bitcoin Reserve Bills Progress in New Hampshire and Florida
Highlights:
- New Hampshire passes Bitcoin reserve bill, setting stage for Senate discussions and potential Governor approval.
- HB302 allows investment in Bitcoin and precious metals with strict guidelines for secure custody.
- Florida advances Bitcoin reserve plan as HB487 gets first committee approval.
On April 10, the New Hampshire House of Representatives narrowly passed Bill HB302, which proposes the creation of a state Bitcoin (BTC) reserve. Lawmakers approved the bill with a 192-179 vote, reflecting a closely divided opinion. The bill now moves to the Senate, where officials will hold further discussions. If the Senate passes it, the proposal will go to Governor Kelly Ayotte for final approval.
New Hampshire Eyes BTC and Precious Metals Investments
If signed into law, HB302 would permit the state treasurer to invest up to 10% of the general fund and other approved funds in precious metals and specific digital assets. The bill also outlines the guidelines for how these assets should be securely custodied. The bill states that only cryptocurrencies with a market capitalization exceeding $500 billion would qualify for investment.
At present, Bitcoin is the only digital asset that meets this requirement. New Hampshire has become the fourth state to approve a Bitcoin reserve bill in one chamber, alongside Arizona, Texas, and Oklahoma. As of the latest annual report, New Hampshire’s treasury held around $3.6 billion in funds. This means the state could potentially invest up to $181 million in precious metals or Bitcoin.
State lawmakers are also considering two additional blockchain-related proposals. The first, HB310, focuses on stablecoins and the tokenization of real-world assets. The second, HB639, proposes broader regulations for blockchain technology and introduces dispute resolution processes.
Florida Joins Bitcoin Reserve Push as HB487 Clears First Committee
In related news, on the same day, Florida’s House Insurance and Banking Committee unanimously approved HB487, the state’s proposed Bitcoin reserve bill. The bill must still pass through three more committees before it can advance to the full House.
Like the legislation in New Hampshire, HB487 would permit Florida’s chief financial officer and the State Board of Administration to invest up to 10% of select state funds, such as the Budget Stabilization Fund and General Revenue Fund, in Bitcoin.
WATCH: Florida House Committee PASSES Bitcoin Reserve Bill
The Insurance and Banking Committee passed HB 487 unanimously today
Including moving testimony from bill sponsor Rep. Webster Barnaby pic.twitter.com/myAlNvtFl9
— Bitcoin Laws (@Bitcoin_Laws) April 10, 2025
Republican Representative Webster Barnaby, who sponsored the bill, urged the Committee to support it before the vote. He said the bill was important and would help place Florida at the forefront of emerging technology. The state can invest by purchasing Bitcoin directly or through Exchange-Traded Products (ETPs).
According to available data, 47 Bitcoin reserve proposals have surfaced across 26 U.S. states. Arizona continues to lead the national effort to create an official Bitcoin reserve. Two of its bills, SB1373 and SB1025, have cleared the House Rules Committee. They now await a full vote on the House floor. If approved, the bills will be sent to Governor Katie Hobbs for her final decision.
Moreover, on Thursday, Arizona’s state legislature passed HB 2342. The bill safeguards individuals who mine Bitcoin or operate blockchain nodes from home.
WATCH: Arizona Senate PASSES Bitcoin mining rights bill, by a vote of 17-12 https://t.co/S8YjYoTp3C pic.twitter.com/w8E00DXnkI
— Bitcoin Laws (@Bitcoin_Laws) April 10, 2025
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Syed Ali Haider
Syed Ali Haider is a contributing crypto writer for Crypto2Community. He is a crypto and blockchain journalist with over six years of experience. Syed Ali is a Blockchain enthusiast and writer passionate about enhancing the acceptance, adoption, and integration of Blockchain technology worldwide. He has also advocated for digital freedom and cybersecurity for many years. Haider has been featured in a number of high-profile crypto and finance outlets, including Coincult and more.
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