New Hampshire and North Dakota have taken steps to establish a Strategic Bitcoin Reserve through newly introduced legislation. This development marks efforts by these states to explore diversification of their treasuries by integrating Bitcoin as a financial asset.
In New Hampshire, Representative Keith Ammon initiated the bill, which strategically frames Bitcoin under the umbrella term “digital assets” to ease potential political challenges. Dennis Porter, CEO of the Satoshi Action Fund, noted this as a tactical move by lawmakers to circumvent controversy, emphasizing the intent behind the bills is indeed Bitcoin.
Simultaneously, North Dakota’s legislative push for a Bitcoin reserve is being championed by Representatives Nathan Toman, Josh Christy, and Senator Jeff Barta. According to Porter, this bill has already garnered support from 11 sponsors.
Earlier in the year, Pennsylvania also introduced a similar initiative aimed at creating a state-level Bitcoin reserve, seeing the cryptocurrency as a safeguard against inflation and economic instability.
Amid these state-level movements, the national conversation around Bitcoin has been invigorated, especially following Donald Trump’s electoral victory. Throughout his campaign, Trump pledged to transform the United States into a global hub for cryptocurrency and Bitcoin, promising to have the Treasury accumulate significant Bitcoin reserves. Industry observers and stakeholders are keenly watching to see if President Trump will deliver on these promises, with some believing he might issue an executive order to recognize Bitcoin as a reserve asset early in his presidency. However, opinions remain divided on the likelihood of such actions coming to fruition.
