New Hampshire becomes first US state to establish a crypto reserve
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The US state of New Hampshire has passed a law creating the first state cryptocurrency reserve in the US.

"New Hampshire is once again First in the Nation! Just signed a new law allowing our state to invest in cryptocurrency and precious metals," the state's governor, Republican Kelly Ayotte, wrote on Tuesday on social network X. Both houses of the New Hampshire parliament are also controlled by Republicans.

According to the bill HB302, the state can invest up to 5% of public funds in precious metals and digital assets with a market capitalization of more than $500 billion. Only bitcoin fits this criterion, according to Business Insider .

The law comes into force 60 days after signing.

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Similar bills have been considered in more than one state, but they have stalled in Montana, Wyoming, North Dakota, and Pennsylvania, and Florida recently withdrew its reserve bills.

At the federal level, the Donald Trump administration has ordered the creation of a national bitcoin reserve, but only of coins already owned by the government, with no obligation to buy more.

Bitcoin supporters believe that creating bitcoin reserves can be a hedge against inflation and instability in the traditional financial system.

  • Unlike the United States, Europe is not even considering including bitcoin in its reserves. The head of the Swiss central bank recently said that cryptocurrencies have too much volatility and insufficient liquidity to preserve the value of foreign exchange reserves.
  • The head of the ECB, Christine Lagarde, was also skeptical about the chances of the largest cryptocurrency to get into international reserves in Europe. She explained that central bank reserves should be liquid, reliable, and should not raise any suspicions of money laundering or other criminal activities. "As a result, I am confident that bitcoin will not be included in the reserves of any of the central banks of the ECB's General Council," Lagarde said.