New Hampshire passes first bill to establish Bitcoin reserve

New Hampshire is set to become the first US state to establish a strategic Bitcoin reserve following the passage of New Hampshire House Bill 302 (HB 302), which authorizes the state treasurer to allocate up to 5% of public funds to Bitcoin and other digital assets. Dennis Porter, CEO of Satoshi Action Fund, announced the news on May 7.

The legislation authorizes the state treasurer to purchase Bitcoin or digital assets with a market capitalization above $500 billion, while capping holdings at 5% of total state funds. The law requires assets to be held in state-controlled multisign wallets, with a qualified custodian, or through a US exchange-traded product.

“Satoshi Action drafted the model, New Hampshire engraved it into law, and now every treasurer nationwide can follow that roadmap,” said Dennis Porter, CEO and Co-Founder of Satoshi Action. “HB 302 proves you can protect taxpayer money, diversify reserves, and future-proof state treasuries—all while embracing the most secure monetary network on Earth. New Hampshire didn’t just pass a bill; it sparked a movement.”

The bill was championed by Representative Keith Ammon, an early Bitcoin advocate and Satoshi Action’s “Lawmaker of the Year,” along with Majority Leader Jason Osborne who helped guide the legislation to passage.

The law will take effect 60 days after passage, establishing a framework for the state to begin acquiring digital assets for its reserves.

This is a developing story.

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