New Hampshire Becomes First To Approve Public Fund Investment

New Hampshire’s Governor signed the bill HB 302 into law, permitting the state to invest in digital assets as well as other valuable metals. With this measure, New Hampshire becomes the first state to pass such a bill into law, while many of the US states are still struggling with this. New Hampshire has hit a major milestone after the Governor of the state signed the bill HB 302 into law on May 6. The governor posted on X, mentioning that New Hampshire is once again first in the nation. She further added that she has signed a new law permitting the state to invest in digital assets as well as other valuable metals. The bill was introduced at the beginning of this year, which allows the New Hampshire state treasurer to invest up to around 5% of public funds. The investment includes areas such as precious metals like gold and silver, or cryptocurrencies having a minimum market capitalization of $500 billion as per the last calendar year. Bitcoin- The Sole Asset Fulfilling The Eligibility As per the minimum eligibility criteria, currently, Bitcoin is the sole digital asset fulfilling it. Keith Ammon, a state representative of New Hampshire, believes that the federal government hasn’t managed the dollar well, so it has increased the demand for considering these things. Also, according to him, this is one of the ways the state could hedge against inflation in the coming years. The unaudited 2024 annual report reveals that the New England state’s treasury held over $3.62 billion at the end of the last year. The 5% of public funds of the state accounts for $181 million, and if the treasury decides to put all of them, then they can have access to 1,194 BTC as per the current price. The bill mentions that having access to Bitcoin can be done directly by the treasury through a secure custody solution, on behalf of the state by a qualified custodian, or through an exchange-traded product issued by a regulated investment firm. With this measure, New Hampshire becomes the first state to pass such a bill into law, while many of the US states are still struggling with this. Highlighted Crypto News Today: DogeOS Secures $6.9M Led by Polychain Capital to Launch Dogecoin App Layer Source: https://thenewscrypto.com/new-hampshire-becomes-first-to-approve-public-fund-investments-in-btc/