The states of New Hampshire and Florida are making headlines by pushing forward with plans to include Bitcoin in their state reserves. In a tight vote of 192-179, New Hampshire’s House passed bill HB302, which would allow the state to invest up to 10% of its general fund in Bitcoin and precious metals. If signed by Governor Kelly Ayotte, New Hampshire could be on the path to becoming one of the first states with a Bitcoin reserve.
Similarly, Florida’s House Insurance and Banking Committee unanimously passed bill HB487, allowing the state to invest up to 10% of key funds in Bitcoin. The bill still requires approval from two more committees before reaching the House floor. Rep. Webster Barnaby, the bill’s sponsor, believes that this move could position Florida at the forefront of digital finance.
With Arizona currently leading the race to become the first U.S. state with a Bitcoin reserve, followed closely by Texas, Oklahoma, New Hampshire, and now Florida, the competition to embrace Bitcoin in state reserves is intensifying. These developments are indicative of the growing acceptance of cryptocurrencies in mainstream financial practices.
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