New Hampshire just made history as the first U.S. state to legalize a government-managed Bitcoin reserve. With this bold move, other states like Texas, Wyoming, and Utah are now scrambling to draft their own crypto treasury strategies.
New Hampshire Sets the Standard
Governor Kelly Ayotte greenlit a bill allowing the state to invest up to 5% of its public funds in crypto—limited to assets with a $500 billion market cap, meaning Bitcoin is the only current option.
“A major leap into digital finance,” Ayotte posted after signing the bill. “We’re investing in the future.”
The law gives New Hampshire the power to turn part of its treasury into BTC holdings—aligning with national plans like Trump’s Strategic Bitcoin Reserve concept.
Texas and Others Line Up
Texas’s bill to establish a Bitcoin reserve has passed most of the required stages and could soon become law. North Carolina, Wyoming, and Ohio are also contenders, though they’ve hit political or legal snags.
Arizona had a strong lead until its bill was vetoed. Florida dropped two bills entirely, citing lack of readiness.
“The most agile states—not the richest—may act first,” said Swan Bitcoin advisor Terrence Yang.
Yang and others believe that smaller governments may treat crypto as a branding tool or experimental financial hedge.
Legal, Political, and Technical Challenges Ahead
According to Bitcoin Laws, there are now nearly 50 crypto treasury bills introduced in over two dozen states. But turning law into practice means solving major problems:
- Safeguarding assets with cold wallets
- Managing volatility
- Navigating SEC compliance risks
“New Hampshire is blazing a trail, but states need strong infrastructure to back it up,” said Dan Hughes, founder of Radix.
Some experts say Bitcoin’s volatility could expose public funds to political backlash if values drop significantly. Others view this as a step toward monetary decentralization.
“This is a revival of America’s old tradition of states defining their own currency models,” said tech lawyer Yuriy Brisov.
As Bitcoin climbs into the spotlight of public finance, state-led adoption could create a new era of decentralized national finance—one where states hold their own digital gold.
