We are experiencing a historic moment for Bitcoin (BTC): For the first time, a U.S. state has approved the Bitcoin Strategic Reserve Law!

A historic step has been taken in the United States: New Hampshire became the first state to pass a law allowing digital assets to be used at the state treasury level, legalizing the “Strategic Bitcoin Reserve” (SBR) model.

The state enacted the bill numbered HB 302 with the governor’s signature.

Under the new law, the state treasury will be able to purchase Bitcoin and certain high-level digital assets to add to its reserves. The law was inspired by the “Strategic Bitcoin Reserve” model law developed by the Satoshi Action Fund. Dennis Porter, CEO and co-founder of Satoshi Action, stated, “The Satoshi Action model was written, New Hampshire legalized it. Now every state treasurer can follow this roadmap. This is not just a law; it is the spark of a movement.”

What Does HB 302 Bring?

• Authorizes the Purchase of Bitcoin and High-Level Digital Assets: The state treasurer will be able to include digital assets with a market value of over 500 billion dollars in reserves. Currently, only Bitcoin meets this criterion.
• Introducing a 5% Limit on Reserve Shares: Bitcoin assets are restricted to not exceed 5% of the state’s total financial reserves.
• Requirement for Secure Custody in Compliance with US Regulations: Assets will be held in multi-signature state-controlled wallets, through a qualified custodian, or via a regulated exchange-traded product in the US.
• The Law Will Come into Effect Within 60 Days: The state treasury will begin to activate the new reserve structure within two months.