New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals.

Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt. 

“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”

According to the bill’s text, the state’s treasurer would be able to allocate public funds to precious metals like platinum and gold, as well as “any digital asset with a market capitalization of over $500 billion averaged over the previous calendar year.”

Under those conditions, only Bitcoin would currently be allowed. But the bill includes language stating that the treasurer may engage in “lending or staking” with digital assets, referencing the process through w

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Author: André Beganski