New Hampshire is the First State to Enact Legislation for a Crypto Reserve.

New Hampshire has taken the lead as the inaugural state permitting the allocation of its public funds into cryptocurrency assets following the governor’s approval of new legislation on Tuesday.

This move positions New Hampshire ahead of several other states that had been pursuing similar initiatives this year but encountered obstacles in recent weeks. By becoming the first state to empower its treasurer to establish such a reserve, New Hampshire might outpace federal efforts in creating a national stockpile.

Governor Kelly Ayotte of New Hampshire, marking her first year in office, highlighted the achievement on social media, expressing pride in the state’s pioneering status.

The newly enacted law in New Hampshire permits investment of up to 5% of public funds in digital currencies with a market capitalization of at least $500 billion, which currently only includes Bitcoin (BTC).

Dennis Porter, founder of the Satoshi Action Fund advocating for state reserves, expressed enthusiasm about New Hampshire’s progress and conveyed hopes that other states will soon follow this example.

Porter remarked on the significance of New Hampshire’s move, stating, “The first one’s the hardest. This will certainly boost political momentum.”

Additionally, state Republicans shared their excitement on social media, declaring New Hampshire as “OFFICIALLY the first state to establish foundations for a strategic Bitcoin reserve.”

They emphasized that the state, renowned for its motto “Live Free or Die,” is at the forefront of shaping the future of digital commerce and asset management.

Arizona had also attempted to pass similar legislation but faced a veto from the governor. Other states, including Florida, have discontinued their efforts, while North Carolina remains a strong contender due to support from a notable lawmaker.

In a previous call to action, President Trump urged his administration to establish its own Bitcoin reserve along with a distinct crypto stockpile, though the Treasury Department continues to assess the federal holdings eligible for such funds.