Bitcoin reserves in the US: New Hampshire and Florida are moving forward

Bitcoin reserves in the US: New Hampshire and Florida are moving forward

New Hampshire has become the fourth US state to pass a bitcoin reserve bill, while Florida is joining it with its own similar proposal. The New Hampshire House of Representatives passed HB302 on 10 April by a vote of 192-179, and it now heads to the Senate. The move would allow the state treasurer to invest up to 10% of the state's general fund in highly capitalised digital assets, with only Bitcoin currently meeting that criterion.

Republican Representative Jordan Ulery stressed that the bill will bring potential profits to states, while Democrat Terry Spahr warned of potential threats to the security of state stocks. New Hampshire is also working on two other blockchain-related proposals.

In Florida, on April 10, the Insurance and Banking Committee unanimously passed HB487, which would allow up to 10% of certain state funds to be invested in Bitcoin. Sponsor Webster Barnaby emphasized that this move will place Florida at the forefront of digital innovation.

Arizona, meanwhile, is seeking to become the first state to establish a strategic reserve for Bitcoin, with SB1373 and SB1025 already making their way through the legislative process. If approved, they await Governor Katie Hobbs' signature.

Bitcoin reserves are thus becoming a significant issue in the US legislature, with the potential for change in state finance and investment.

*This is not an investment recommendation.

Coingarage Team