New Hampshire and North Dakota have become the latest US states to introduce legislation for a strategic Bitcoin reserve, signaling a continued push among lawmakers to diversify state treasuries with the cryptocurrency.
According to Satoshi Action Fund CEO Dennis Porter, the New Hampshire bill was introduced by Representative Keith Ammon, a Republican who represents the 40th District.
The New Hampshire bill doesn’t explicitly mention Bitcoin (BTC) but instead refers to “digital assets.” Porter said this is a way for state lawmakers to push through the legislation without causing political friction.
Source: Dennis Porter
“The intent is for Bitcoin but oftentimes that’s not possible depending on the state,” said Porter.
On the same day, legislation for a strategic Bitcoin reserve was also introduced in North Dakota, championed by Representative Nathan Toman, Representative Josh Christy and Senator Jeff Barta.
The North Dakota bill “already has 11 sponsors,” Porter said in a separate statement on the X social media platform.
In November, the Pennsylvania House of Representatives introduced its own legislation for a state-level Bitcoin reserve modeled after a proposal from the Satoshi Action Fund. At the time, Representative Mike Cabell called Bitcoin a hedge against inflation and other forms of economic instability.
Related: RFK Jr: Only Bitcoin can guarantee US dollar’s reserve currency status
All eyes on Trump as inauguration looms
Talks of a strategic Bitcoin reserve have intensified since the summer when then-presidential candidate Donald Trump promised to make America the crypto and Bitcoin capital of the world if he won the presidency. This promise included ordering the Treasury Department to buy a huge stockpile of BTC.
After Trump won the November presidential election, industry advocates have been eager to see the president-elect follow through on his promise.
Some observers, like Strike CEO Jack Mallers, say Trump could sign an executive order making BTC a reserve asset on “day one.”
However, others, like Galaxy Digital founder Mike Novogratz, believe a Bitcoin reserve is unlikely to materialize.
Bettors on Polymaket say there’s only a 27% chance that Trump will establish a Bitcoin reserve in his first 100 days in office. This figure was as high as 45% in November.
Related: Trump’s Bitcoin policy lashed in China, deepfake scammers busted: Asia Express
