New Hampshire and North Dakota Propose Strategic Bitcoin Reserves Amid Growing State Interest
Two U.S. states, New Hampshire and North Dakota, have introduced bills to establish strategic Bitcoin reserves, marking another step in the growing trend of state-level cryptocurrency adoption. These legislative efforts reflect increasing interest among policymakers to integrate Bitcoin into state treasuries as a potential hedge against inflation and economic uncertainty.
State-Level Push for Bitcoin Reserves
In New Hampshire, the legislation was introduced by Representative Keith Ammon, a Republican from the 40th District. Interestingly, the bill avoids explicitly mentioning Bitcoin, instead using the broader term “digital assets.” According to Dennis Porter, CEO of Satoshi Action Fund, this language choice aims to reduce political friction and facilitate smoother legislative passage.
On the same day, North Dakota unveiled its own bill for a strategic Bitcoin reserve. The initiative, spearheaded by Representative Nathan Toman, Representative Josh Christy, and Senator Jeff Barta, has already garnered significant support with 11 co-sponsors, Porter said in a statement on X (formerly Twitter).
These states follow Pennsylvania, which introduced similar legislation in November. Pennsylvania Representative Mike Cabell highlighted Bitcoin’s potential as a hedge against inflation and economic instability, signaling a broader trend among lawmakers to explore crypto as a viable addition to state treasuries.
A National Perspective: Trump’s Bitcoin Promises
The conversation around strategic Bitcoin reserves has gained momentum since Donald Trump’s presidential campaign promise to make the U.S. a global leader in cryptocurrency. Trump pledged to direct the Treasury Department to purchase a significant Bitcoin stockpile, framing the move as a step toward strengthening the nation’s economic resilience.
Following Trump’s election victory in November, industry advocates are keen to see if these promises will materialize. Strike CEO Jack Mallers has speculated that Trump could act swiftly, potentially signing an executive order to make Bitcoin a reserve asset on his first day in office.
However, skepticism remains. Galaxy Digital founder Mike Novogratz has expressed doubt that such a reserve will come to fruition, and betting platform Polymarket reflects this uncertainty, showing only a 27% probability that Trump will establish a Bitcoin reserve within his first 100 days. This figure has dropped from 45% in November.
Conclusion: A Bold Step or an Uncertain Path?
The push for strategic Bitcoin reserves in states like New Hampshire and North Dakota underscores the growing influence of cryptocurrency in public policy discussions. As the nation awaits Donald Trump’s inauguration, the spotlight remains on whether his administration will translate pro-Bitcoin rhetoric into actionable policies.
For now, these legislative efforts highlight the broader movement toward integrating digital assets into traditional financial systems. While challenges persist, the momentum behind Bitcoin’s adoption at both state and national levels suggests that the cryptocurrency’s role in economic policy will only continue to expand.