Two U.S. states, New Hampshire and North Dakota, have introduced legislation aimed at establishing strategic Bitcoin reserves. This move reflects a broader push among lawmakers to diversify state treasuries and explore the benefits of cryptocurrency as an economic hedge.
Bitcoin Legislation Gains Momentum in New Hampshire
New Hampshire’s proposal, spearheaded by Representative Keith Ammon (R-40th District), takes a strategic approach by referring to “digital assets” rather than explicitly naming Bitcoin. According to Dennis Porter, CEO of the Satoshi Action Fund, this language allows lawmakers to avoid political friction while advancing legislation with Bitcoin in mind.
“The intent is for Bitcoin, but oftentimes that’s not possible depending on the state,” Porter explained.
New Hampshire’s bill is part of a growing trend among states seeking to integrate cryptocurrency into financial strategies to counter inflation and economic uncertainties.
North Dakota’s Bold Step Toward a Bitcoin Reserve
On the same day, North Dakota introduced a similar bill led by Representative Nathan Toman, Representative Josh Christy, and Senator Jeff Barta. Porter noted that this legislation already has 11 sponsors, signaling strong support among state lawmakers.
The move mirrors efforts in other states like Pennsylvania, where a bill for a Bitcoin reserve was introduced in November 2024. Representative Mike Cabell, who backed the Pennsylvania proposal, described Bitcoin as a hedge against inflation and economic instability.
Federal Crypto Advocacy and Trump’s Bitcoin Promises
Discussions around state-level Bitcoin reserves have intensified since Donald Trump’s campaign promise to make the U.S. the global hub for Bitcoin and cryptocurrency. As president-elect, Trump has pledged to have the Treasury Department purchase a significant Bitcoin reserve.
Industry leaders remain divided over whether this promise will materialize.
- Optimists: Strike CEO Jack Mallers predicts Trump could sign an executive order declaring Bitcoin a reserve asset on his first day in office.
- Skeptics: Galaxy Digital founder Mike Novogratz doubts a Bitcoin reserve will come to fruition anytime soon.
Meanwhile, betting platform Polymarket shows a declining probability of Trump creating a Bitcoin reserve within his first 100 days in office—down from 45% in November to 27% currently.
As inflationary pressures persist and economic volatility looms, state and federal interest in Bitcoin continues to rise. Proposals like those in New Hampshire and North Dakota illustrate the growing acknowledgment of cryptocurrency as a potential financial safeguard, though significant hurdles remain for broader adoption.
