In a significant move towards the investment in digital assets in state fiscal planning, Florida and New Hampshire are proceeding with bills that would allow state investment in Bitcoin. These developments form part of a broader trend among U.S. states to consider cryptocurrencies as a serious part of their portfolio.
New Hampshire’s HB302: A Step Towards Digital Asset Investment
On April 10, 2025, the New Hampshire House of Representatives approved House Bill 302 (HB302) by a vote of 192–179. The bill, now headed to the state Senate, aims to allow the state treasurer to invest up to 10% of the state’s general fund and other funds authorized into a combination of digital assets and precious metals.
Most significantly, the bill calls for investment in only those cryptocurrencies with a market capitalization of more than $500 billion, a level currently met by only Bitcoin.
HB302 also mandates strict custody provisions, where digital assets are held directly by the state treasurer via secure storage solutions, by a qualified custodian, or by a registered exchange-traded product. It also permits the treasurer to engage in lending or staking activities subject to the provision that the state has legal ownership and utilizes approved third-party solutions.
Though supporters, such as Republican Rep. Jordan Ulery, indicate the bill could yield high returns to the state, critics like Democratic Rep. Terry Spahr are concerned about the risks of committing the state to particular asset classes during the volatile crypto climate.
Florida’s HB487: Unanimous Committee Approval
Meanwhile, Florida is also moving forward with its own Bitcoin reserve bill. House Bill 487 (HB487) was unanimously voted through by the state’s Insurance and Banking Subcommittee on April 10, 2025. The bill authorizes the state’s Chief Financial Officer and State Board of Administration to invest up to 10% of certain state funds, such as the General Revenue Fund and Budget Stabilization Fund, in Bitcoin.
HB487 has certain provisions for dealing with digital assets, including direct investment through qualified custodians and exchange-traded products. Republican Representative Webster Barnaby, the bill’s sponsor, pointed out that this bill places Florida at the forefront of digital financial innovation.
Wider Implications and National Framework
New Hampshire and Florida’s legislative actions are part of a growing trend among U.S. states to seek the adoption of digital assets in public finance. Investment manager VanEck summarizes that if all the bills presented in 18 states on the establishment of state Bitcoin reserves were passed, it would see over $23 billion worth of Bitcoin bought.
These efforts reflect increasing recognition of cryptocurrencies as strategic assets with the potential to diversify state financial holdings. With other states looking to follow suit, public finance in the U.S. could be transformed significantly.
Legislative Momentum Continues
With New Hampshire’s HB302 being considered by the Senate and Florida’s HB487 being considered in legislative committees, the two states are leading the charge in adding digital assets to state budgets. The moves are part of a broader movement to adopt innovation in public finance that could set the stage for other states to emulate.
Descubra mais sobre
Assine para receber nossas notícias mais recentes por e-mail.
