North Dakota and New Hampshire have joined the growing list of US states introducing legislation to establish Bitcoin reserves.

This move reflects increasing efforts to diversify state treasuries against economic challenges like inflation.

Bitcoin Reserve Bills Gain Momentum in the US

Lawmakers in North Dakota recently introduced a proposal to integrate digital assets and precious metals into the state’s investment strategy. The House Concurrent Resolution 3001 directs the State Treasurer and Investment Board to allocate portions of key state funds — such as the general fund and legacy fund — into these alternative assets.

“The Legislative Assembly encourages the State Treasurer and State Investment Board to invest a portion of the state general fund, budget stabilization fund, and legacy fund in digital assets and precious metals,” the bill stated.

While the resolution avoids explicitly naming Bitcoin, its inclusion of digital assets reflects the growing interest in cryptocurrency as a viable investment. Supporters believe this approach could help safeguard the state’s finances against economic pressures like inflation.

Lawmakers introduced similar legislation in New Hampshire to establish a state Bitcoin reserve. Although the bill does not directly name Bitcoin, its requirements suggest that the top crypto would be the sole cryptocurrency eligible for investment.

The legislation stipulates that only digital assets with a market cap above $500 billion over the past year or stablecoins qualify for inclusion. Indeed, Bitcoin is the obvious candidate as it is the only asset within that range.

Meanwhile, the absence of Bitcoin’s name in both proposals has sparked debates within the crypto community. Critics view this as a loophole for including other assets. However, proponents argue it’s a delibera

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Author: Oluwapelumi Adejumo