New Hampshire’s move toward integrating digital assets into its financial strategy took a step forward this week as House Bill 302, which would enable the state to invest in Bitcoin and precious metals, passed its second Senate committee.
The bill, first introduced in January, has now cleared four major legislative stages. HB302 began with a 16–1 vote in the House Commerce and Consumer Affairs Committee, followed by passage in the full House on April 10 by a narrow 192–179 margin. After being referred to the Senate, the bill was reviewed in its second committee, which issued a favorable 4–1 recommendation on April 23. It is now poised for a full vote on the Senate floor.
HB302 would allow the state treasurer to invest up to 10% of public funds from the general fund and other authorized pools into precious metals and select digital assets with a market capitalization exceeding $500 billion—criteria currently met only by Bitcoin. It also includes provisions for secure custody, either through direct state management, qualified custodians, or exchange-traded products.
The bill has sparked heated debate in the state legislature. Ahead of the House vote, Democratic Representative Terry Spahr criticized the measure as unnecessary, warning that it could jeopardize the long-term security of the state’s digital asset holdings. In contrast, Republican Representative Jordan Ulery defended the bill, arguing that it presents “the potential for a large amount of money being earned by the state through these investments.”
With digital asset adoption increasingly becoming a legislative priority across the U.S., New Hampshire’s progress with HB302 reflects a broader trend of state-level experimentation with crypto policy. Other blockchain-related bills, such as HB310 (covering stablecoins and tokenized real-world assets) and HB639 (focusing on blockchain regulation), are also under consideration in the state.
According to Bitcoin Laws, which tracks the progress of Bitcoin reserve legislation across U.S. states, if HB302 is ultimately signed into law, it would make New Hampshire the third state—after Arizona and Texas—to pass a Bitcoin reserve bill through one full legislative chamber.
