New Hampshire Moves Towards Bitcoin: A Big Step!
Imagine this: New Hampshire, a state in the US, is thinking about using Bitcoin in its public funds. That’s right! The state’s House Commerce and Consumer Affairs Committee has said “yes” to a bill that could make this happen. This is a huge deal because it means that Bitcoin could become a part of how states manage their money. On March 5, 2025, the bill, called House Bill 302, passed with a big majority of 16-1. Now, it’s going to be voted on by the whole House.
What’s in the Bill and What It Means
House Bill 302 was introduced by a Republican representative named Keith Ammon. Two Democrats, Chris McAleer and Carry Spier, also supported it. The bill says that the state treasurer can use up to 5% of the state’s money to buy digital assets. But here’s the catch: these assets must be worth at least $500 billion on average over the past year. Right now, Bitcoin is the only one that fits this description.
The bill also makes sure that these digital assets are safe. It says they must be kept by a special company called a qualified custodian, or they must be something you can buy on a stock exchange.
Everyone’s On Board!
This bill has support from both Republicans and Democrats. At first, the plan was to use up to 10% of the state’s money, but lawmakers decided to lower it to 5%. Representative Ammon also said that the bill was changed to only include Bitcoin and not other types of digital assets like stablecoins or staking options.
Not Alone in This Journey
New Hampshire isn’t the only state thinking about using Bitcoin. States like North Carolina, Oklahoma, and Texas are also considering similar bills. Utah and Arizona have even gone further with their plans. Even the former US President, Donald Trump, once suggested a plan to include Bitcoin in a special reserve for the country.
Opening a New Door for Money Management
This vote in New Hampshire is a big step towards using Bitcoin in public funds. It shows that more and more people are accepting cryptocurrencies as real money. As more states think about doing this, we could see a big change in how governments manage their money. This could lead to a new way of thinking about money that’s more diverse and strong.
Sources: cryptonews.com, cointelegraph.com, coinpaper.com