New Hampshire’s Big Step into Bitcoin
Get ready, New Hampshire! Your state just took a huge step towards making Bitcoin a part of its financial system. The state’s Bitcoin bill passed a super important committee with a whopping 16-1 vote[1][5]. This could change how money works in New Hampshire and maybe even other states. Let’s find out what’s in this bill and what it means.
What’s in the Bill?
The bill was brought by a Republican, Keith Ammon, and two Democrats, Chris McAleer and Carry Spier[1]. It lets the state treasurer invest up to 5% of the state’s money in digital assets like Bitcoin[1]. But here’s the catch: the digital assets must have been worth at least $500 billion on average over the past year. Right now, that only applies to Bitcoin[1]. The bill also allows investing in precious metals like gold, silver, and platinum[1].
Changes and Details
At first, the bill wanted to invest 10%, but it was changed to 5% to be more careful[1]. The bill also doesn’t include stablecoins or the option to “stake” cryptocurrencies, which is a way to earn more crypto by holding it[1]. Any digital assets the state buys must be kept safe by a professional or in a regulated investment product[1].
What Does This Mean for New Hampshire and Beyond?
New Hampshire is now one of several states thinking about using cryptocurrencies in their finances. Other states like North Carolina, Oklahoma, and Texas are also working on similar bills[1]. If New Hampshire’s bill succeeds, it might encourage more states to consider investing in cryptocurrencies, which could lead to wider acceptance of digital assets in the U.S.
What’s Going on Nationally?
This bill passed while there’s growing interest in cryptocurrencies at the national level. Even President Trump is talking about creating a “Crypto Strategic Reserve” that would include Bitcoin and other major cryptocurrencies[1]. This shows that digital assets are being taken more seriously as real investment options.
Looking Ahead: A New Way of Managing Money
The House committee’s approval of New Hampshire’s Bitcoin bill is a big deal. As the bill goes to the full House for a vote, it represents a new way of thinking about money for New Hampshire and maybe other states too. If this bill becomes a law, it could start a new era of financial diversity and technology in the U.S.
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Sources:
– Cointelegraph
– The Automatic Earth
– ADVFN
