New Hampshire and North Dakota introduce legislation for strategic Bitcoin reserves

New Hampshire and North Dakota join the list of US states considering Bitcoin reserves. On Friday, North Dakota lawmakers submitted a House Concurrent Resolution (HCR) proposing the inclusion of digital assets and precious metals in the state treasury’s portfolio, citing inflation risks. 

New Hampshire State Representative Keith Ammon also pushed for adding digital assets to their state treasury.

New Hampshire introduces a tech-neutral bill to push for digital asset allocation

North Dakota introduced HCR 3001, which requires part of state funds to be invested in digital assets and precious metals.

The resolution already has 11 sponsors, including State Reps. Nathan Toman, Matthew Heilman, Jared Hendrix, Daniel Johnston, SuAnn Olson, Todd Porter and Senators. Jeff Barta, and Bob Paulson. 

These sponsors expect that future digital asset allocation could protect against inflation and other economic uncertainties.

New Hampshire also proposed legislation for the inclusivity of digital assets, led by State Representative Keith Ammon. New Hampshire could have up to $360 million in crypto in its reserves if the bill is passed. 

While the legislation is similar to North Dakota’s, it does not address Bitcoin by name. Dennis Porter, CEO and Co-Founder of Satoshi Action Fund, even commented on the move:

“It’s not a ‘sneaky’ way. Some states will require us to develop tech-neutral bills, which is very common in policy. It’s a way to reduce political friction.”

~ Dennis Porter

Texas, Alabama, and Pennsylvania are also considering holding Bitcoin

In addition to New Hampshire and North Dakota, Pennsylvania, Texas, and Alabama have already introduced legislation to establish future Bitcoin reserves.

State Representative Mike Cabell proposed establishing a Bitcoin reserve for Pennsylvania on November 14, 2024. He suggested an initial BTC holding of up to 10%, however, he did say the state could begin with a smaller percentage, maybe between 1% and 5%. 

He even added that the state’s $7 billion emergency fund could be used to buy Bitcoin to hedge against inflation.

Rep. Giovanni Capriglione also pushed for Texas to start accepting taxes, fees, and donations in BTC. 

Alabama’s Andrew Sorell also encouraged the start of Bitcoin reserves in the state. He claimed that since crypto is already here and reshaping markets globally, the state should at least profit from it.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.