New Hampshire’s Big Step into the Bitcoin World
Get ready for some big news from New Hampshire! The state’s Bitcoin bill just got a huge thumbs-up from the House Commerce and Consumer Affairs Committee, with a whopping 16-1 vote[1][5]. This is a giant leap towards making Bitcoin a part of the state’s financial system, and it could inspire other states to do the same. Let’s find out more about this exciting development and what it means.
What’s in the Bill?
The bill was introduced by a Republican named Keith Ammon, and it got support from Democrats Chris McAleer and Carry Spier. Here’s what it says:
- The state treasurer can invest up to 5% of certain funds in digital assets. But there’s a catch – these assets must have been worth an average of $500 billion in the past year.[1]
- Right now, only Bitcoin meets this criterion, so it’s the main focus of the bill.
- The investments must be kept safe by a professional or in the form of an exchange-traded product.[1]
Initially, the bill wanted to invest 10%, but it was changed to 5% to be more careful. Stablecoins and staking were also left out to keep things simple.[1] The current treasurer, Monica Mezzapelle, is ready to invest in these assets if the bill passes.[1]
What Does This Mean for Other States and the Country?
New Hampshire isn’t alone in exploring Bitcoin. States like North Carolina, Oklahoma, and Texas are also thinking about similar bills.[1] This shows that more and more states are seeing Bitcoin as a real investment option.
This is happening while the federal government is also paying more attention to Bitcoin. President Donald Trump even talked about a Crypto Strategic Reserve that would include Bitcoin.[1]
Why This Matters
The House committee’s vote is a big deal because it shows that New Hampshire is serious about embracing financial innovation. As the bill moves forward, it’s not just a local thing – it’s part of a national trend towards accepting Bitcoin as a mainstream investment.
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Sources:
– Cointelegraph
– ADVFN