Today, the New Hampshire House of Representatives approved a bill that would establish a state Bitcoin reserve.  The bill would permit the stat'es treasury to invest in both precious metals and digital assets.  Keith Ammon, New Hampshire Representative and bill author, told Decrypt, "While we are tied to the U.S. dollar, this proposal would allow the state to invest a small percentage in this innovative asset class which is not correlated to traditional markets.”

The bill will allow the treasury to invest as much as 5% of New Hampshire's public funds in gold and silver, as well as "any digital assets that have a market capitalization exceeding $500 billion on average over the preceding calendar year", which Bitcoin is the sole digital asset meeting this criterion.

In it's most recent annual report, New Hampshire's treasury carried around $3.6 billion in funds, which means the state could buy up to $181 million in Bitcoin at a price around $79,755 per coin.

The bill also indicates that Bitcoin held by the state must be held by a qualified custodian, by the treasurer with a secure custody solution, or via an exchange traded product from a registered investment company.

The passing of this bill in the New Hampshire House puts the state ahead of North Carolina, Oklahoma, Texas, and West Virginia who are awaiting full House votes on their own SBR.

The bill is now moving to the New Hampshire Senate for approval.