A few years ago, the idea would have made you smile. Today, she is law. The New Hampshire has just become the very first American state to build up a strategic reserve… in Bitcoin. Yes, you read that right. The crypto is no longer only in the portfolios of geeks or insomniac traders, it is officially invited into public accounts.
In short
- New Hampshire becomes the first US state to invest part of its public funds in Bitcoin.
- Only digital assets exceeding $ 500 billion in capitalization, such as Bitcoin, are eligible for a reserve.
- New Hampshire could inspire other states to integrate cryptos into their public financial strategy.
A small state, a big step for Bitcoin
Governor Kelly Ayotte signed the HB 302 law on May 6. Behind this somewhat austere name hides a gentle revolution: the treasurer of the State now has the right to invest up to 5 % of public funds in ” leading digital assets ». There is no question here to have fun with the same or dark tokens. The law fixes a clear rule: only assets with a market capitalization of more than $ 500 billion is authorized. To date, this leaves only one candidate in the running: Bitcoin.
Well, one might think that the state will store its Satoshis in an old ledger hidden under an office. But no. The text is square on childcare conditions:
- Multisignating wallets;
- Approved depositaries;
- ETF.
Everything is thought of so that public bitcoins are well kept. New Hampshire wants to do this proper, with rules worthy of a good portfolio manager. And it is not a coincidence: the idea is to add a rope to the financial arc of the State, without taking delusional risks.
New Hampshire shows the way
This is not the first to try the experience. Florida, Texas, Arizona and some others were tried, without succeeding. But there, it is validated, signed, acted. And on the side of Bitcoin fans, it applauds. Dennis Porterof the Satoshi Action Fund, speaks squarely about a ” model to follow ». The idea is simple: why let the dollar melt with inflation when you can store a little BTC in anticipation of uncertain tomorrows?
Maybe that's it, the background of history. Bitcoin begins to take the place that gold has long occupied in the collective imagination:
- A refuge value;
- Insurance in the event of a monetary crisis.
And if the Salvador made it official in its economy, the New Hampshire, it, installs it as a strategic active. A way of saying: ” We don't go so far as to pay BTC taxes, but we take it seriously ».
However, this advance could still push regulators to clarify the rules in crypto matters, as Ryan Lee, chief analyst at Bitget Research thinks:
New Hampshire law stimulates the adoption of cryptocurrencies at state level […] It pushes federal regulators to clarify the rules relating to cryptocurrencies, in a context of concern about the devaluation of the fiduciary currency. The volatility of Bitcoin could slow down the evolution of the regulations.
Clear? What looked like a crazy bet gradually becomes a state strategy where even the Czech Republic could invest $ 7 billion there. And it could well be the start of a trend: other states, other countries could be inspired by this assumed bitcoin turn. So, a simple radiance or start of a new budgetary era? We will follow this closely.
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