In a triumphant flourish of legislative eccentricity, New Hampshireās House of Representatives has voted 192-179 in favor of House Bill 302. After a near-imperceptible pause for polite applause, they join the dazzling trio of Texas, Arizona, and Oklahoma as enthusiasts of digital assets. š¤·āāļø
One hopes the Senateāwhose members undoubtedly sip tea with raised pinkiesāwill greet this bill with appropriate fanfare before Governor Kelly Ayotteās pen meets paper. Should it pass, the state treasury might gleefully divert 10% of its funds into Bitcoin, gold, silver, or platinum. Imagine the thrill of spending a tiny portion of $3.6 billion on magical internet money!
An Enthralling Approval for Bitcoin Reserve
Should this act be fully blessed, New Hampshire could whisk away $181 million for precious metals or BTC, buying approximately 2,269 BTC at current prices. The bill imposes a marvelous velvet rope policy: any divine crypto must boast a market cap above $500 billion, leaving only Bitcoin swanning through. As Representative Keith Ammon might say with a sly grin, āWeāre tied to the U.S. dollar, whether we like it or notāso why not dance with Bitcoin?ā š
āWeāre tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.ā
All this brouhaha, of course, demands a respectable custodian or an ETF. No rummaging around in oneās sock drawer for those private keysāand no trusting the neighborhood jester to safeguard a $181 million crypto stash. š¤
An Unnecessary Bill
Like a debutante fainting at a ball, critics claim the bill is utterly superfluous. Democrat Representative Terry Spahr insists the treasurer already wields the power to dabble in cryptosāwhy create a special invitation to the party? Spahr also frets that these digital darlings shift faster than a fickle fashion trend, threatening the stability of the stateās future holdings.
āUnbeknownst to the committee and to the sponsor [ā¦] the treasurer testified that they already have that authority. Cryptocurrency is āconstantly shifting and changing, and itās sort of dangerous to be kind of locked into certain types of security measuresā¦āā
In contrast, Republican Representative Jordan Ulery imagines fresh streams of revenue for the state, suggesting that ignoring such a golden (or rather, digital) opportunity would be akin to leaving a splendid feast untouched. Meanwhile, New Hampshire is juggling other blockchain billsābecause once youāve tried one dance with crypto, you canāt resist the entire waltz.
Florida House Committee Passes Bitcoin Reserve Bill
Down in sun-drenched Florida, the House Insurance and Banking Committee unanimously passed its own Bitcoin reserve bill, HB487. Tight and tidy, it must now charm three more committees before meeting the House. The bill would let Floridaās Chief Financial Officer roam into the world of BTC with up to 10% of certain funds, guided by qualified custodians and the ever-reassuring presence of ETFs. One can already hear the distant roar of alligatorsāand the flirtatious clink of digital coins being stacked. š¤
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2025-04-12 14:52