A proposed legislation by Representative Keith Ammon might permit the New Hampshire state treasury to keep Bitcoins as part of its reserve assets.
The Republican Representative Keith Ammon suggested a new law that aims to create a special Bitcoin (BTC) deposit for the state. This would allow the state’s financial resources to hold Bitcoin along with conventional assets such as gold, silver, and platinum.
Representative Ammon’s proposed legislation encompasses “safe storage options” designed to protect New Hampshire’s possible Bitcoin reserves, given the escalating adoption of cryptocurrencies. In essence, this implies that even states may soon require a digital wallet for cryptocurrencies.
Should it be approved, New Hampshire might spearhead the movement advocating for state-held Bitcoin reserves. Yet, it’s up against tough rivalry from other states pondering over the same initiative.
major development: A proposal for establishing a ‘Strategic Bitcoin Depository’ has been put forth in the state of New Hampshire, sponsored by Representative Keith Ammon (@RepKeithAmmon).
— Dennis Porter (@Dennis_Porter_) January 10, 2025
Previously, I’ve learned about the potential legislative moves regarding Bitcoin (BTC) in various U.S. states, such as Texas and Ohio, as well as at the federal level. Representatives like Cynthia Lummis have been vocal advocates for establishing a BTC reserve.
The concept of a U.S. reserve for Bitcoin gathered traction the previous year, fueled partly by Former President Donald Trump’s efforts to win over the voting block in the crypto sector. Trump expressed his intent to position the U.S. as a global frontrunner in cryptocurrency and proposed amassing a Bitcoin deposit from the government’s current 207,000 Bitcoins.
Currently, as we’re only a fortnight into the year 2025, forecasts that additional regions would transition to maintaining Bitcoin reserves are proving accurate. Alongside U.S. states, nations such as Brazil and Poland have now started investigating the idea of storing Bitcoin within their national funds.
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2025-01-10 20:50