New Hampshire becomes the first state to establish strategic Bitcoin BTC/USD reserves
Dennis Porter, founder of SA Fund, revealed on social media that New Hampshire Governor Kelly Ayotte has signed Bill 302 into law.
New Hampshire has thus become the first state in the United States to establish a strategic Bitcoin (BTC/USD) reserve, allowing public funds to invest in Apex cryptocurrencies and other digital assets that meet certain standards.
Details: Act 302 signed by Gov. Kelly Ayotte not only allows investment in Bitcoin, but also includes other digital assets that meet certain standards, said Dennis Porter, founder of Satoshi Action Fund.
The new law gives state treasurers the power to invest public funds in precious metals and digital assets with a market capitalization of more than $500 billion. Currently, only Bitcoin meets this standard, and state governments can choose to invest directly or invest through exchange-traded products.
The legislation sets a 5% upper limit on the total amount of public funds available to invest in digital assets.
The nonprofit Satoshi Action Fund actively promotes support for Bitcoin legislation across the United States.
This progress comes after Florida's decision to abandon similar proposals. The Florida Legislature eventually withdrew Bill 487, which would have allowed state-managed public funds to invest in Bitcoin.
Earlier this year, the governor of Arizona vetoed a bill that would allow 10% of certain states' funds to invest in digital assets such as Bitcoin.
See also: Analytics notes Bitcoin, Ethereum and Dogecoin prices soared as Scott Bessent’s efforts synced with China’s trade talks: key BTC stakeholders are “going in the right direction” towards the $100,000 goal.
This content is partly generated by Benzinga Neuro and reviewed and published by Benzinga editor.
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