Kelly Ayotte Announces New Hampshire to Allow Investment in Cryptocurrency and Precious Metals
Kelly Ayotte made an announcement on social media, declaring that New Hampshire will be allowed to “invest in cryptocurrency and precious metals.” This decision stems from a bill passed by the state Senate and House of Representatives — House Bill 302.
According to the bill, the New Hampshire government will be able to use 5% of its funds to invest in cryptocurrencies with a market capitalization exceeding $50 billion. Based on current market conditions, only Bitcoin meets this criterion.
With the formal enactment of this legislation, New Hampshire becomes the first among several U.S. states considering legislation to establish a Bitcoin strategic reserve. One of the bill’s sponsors, State Representative Keith Ammon, told the media that the new law embraces financial innovation and aids in diversifying the state’s investments to mitigate inflation caused by the federal government’s relentless money printing.
Similar legislation was passed in the Arizona House of Representatives in April but was ultimately vetoed by Governor Katie Hobbs on May 2. Additionally, the Florida government withdrew two cryptocurrency reserve bills from consideration on May 3. However, with New Hampshire leading the way, other states may find their concerns alleviated, potentially increasing the likelihood of passing related legislation.
