Bitcoin has taken both the world and Wall Street by storm. And now, New Hampshire has become the first state ever to legally approve using public funds to purchase Bitcoin.
What’s happening:
- The governor of New Hampshire has officially signed House Bill 302 bill to approve buying Bitcoin with state funds
Why it matters:
- The new approval makes New Hampshire the first state in the history of the United States to legally allow the purchase of Bitcoin to occur with state funds
Going deeper:
- House Bill 302 will allow New Hampshire to use up to 5% of publicly available funds to begin purchasing Bitcoin to hold directly as an asset
- Multiple other states are currently pursuing passing similar bills focused on buying and holding Bitcoin, including Maryland, Michigan, Texas, Oklahoma, Utah and Alabama
The intrigue:
- House Bill 302 specifically states that only digital assets with a market capitalization of more than $500B USD can be purchased and no other cryptocurrencies can be bought with public funds
