In a triumphant flourish of legislative eccentricity, New Hampshire’s 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. 🤷♂️
One hopes the Senate—whose members undoubtedly sip tea with raised pinkies—will greet this bill with appropriate fanfare before Governor Kelly Ayotte’s 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, “We’re tied to the U.S. dollar, whether we like it or not—so why not dance with Bitcoin?” 😏
“We’re 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.”
All this brouhaha, of course, demands a respectable custodian or an ETF. No rummaging around in one’s sock drawer for those private keys—and no trusting the neighborhood jester to safeguard a $181 million crypto stash. 🤑
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 cryptos—why 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 state’s future holdings.
“Unbeknownst to the committee and to the sponsor […] the treasurer testified that they already have that authority. Cryptocurrency is ‘constantly shifting and changing, and it’s sort of dangerous to be kind of locked into certain types of security measures…’”
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 bills—because once you’ve tried one dance with crypto, you can’t 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 Florida’s 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 alligators—and the flirtatious clink of digital coins being stacked. 🤠
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2025-04-12 14:52