The Bitcoin reserve bill HB302, which could authorize up to 10% of New Hampshire state funds to be allocated to digital assets, has passed the state’s House of Representatives. If approved, the bill would allow the state treasurer to invest in digital assets like Bitcoin, as well as precious metals. Supporters believe this could potentially generate new revenue streams and diversify state finances. New Hampshire is also considering other blockchain-related proposals, including bills on stablecoins and broader blockchain regulations. The bill now moves on to the Senate for further debate before potentially being signed by the Governor. New Hampshire is the fourth state to advance such legislation, with a vote of 192-179 in favor of the bill. Republican Representative Jordan Ulery believes that strategic investments in assets like Bitcoin could lead to significant earnings for the state. The bill requires cryptocurrencies to have a market capitalization of at least $500 billion to qualify for the reserve, a threshold currently only met by Bitcoin. Visit diplomacy.edu for more information on these topics.
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