New Hampshire and Florida are advancing in the race to establish a state bitcoin reserve.
On April 10, the New Hampshire House passed bill HB302 with a 192–179 vote. The bill would allow the state treasurer to invest up to 10% of the general fund and other authorized funds in precious metals and digital assets with an average market capitalization of at least $500 billion over the past calendar year. With this approval, New Hampshire becomes the fourth U.S. state to pass a strategic bitcoin reserve bill through a legislative chamber, joining Arizona, Texas, and Oklahoma.
During the debate, Democratic Rep. Terry Spahr argued the bill was unnecessary, claiming the treasurer already had such authority and citing potential security risks tied to digital assets. On the other hand, Republican Rep. Jordan Ulery defended the initiative, highlighting the “potential for significant gains for the State through these investments.”
Florida also pushes forward
That same day, Florida’s House Insurance & Banking Subcommittee unanimously approved bill HB487, which would allow state financial officers to invest up to 10% of certain funds in bitcoin.
Republican Rep. Webster Barnaby, who sponsored the bill, urged the committee to support “this very important piece of legislation,” saying it would place Florida “at the forefront of this brand-new technology.”
The proposal allows for investments in digital assets directly, via qualified custodians, or through spot ETFs.
According to Bitcoin Laws, Arizona currently leads the race to become the first U.S. state to establish a strategic Bitcoin reserve. On March 24, two digital asset reserve bills, SB1373 and SB1025, passed the Arizona House Rules Committee and are heading to a floor vote.
