New Hampshire Rep. Keith Ammon (R) proposed a invoice Friday would enable the state treasury to invest part of public funds in digital assets and precious metals.

The move would not only insulate the Granite State from the threat of hyperinflation, but would also be consistent with some of New Hampshire's cultural values, Ammon said. Decryption.

“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 are tied to the US dollar, whether we like it or not, but this will allow us to get the country to invest a small portion in this new, uncorrelated asset class.”

According to the text of the bill, the state treasurer would be able to allocate public funds to precious metals such as platinum and gold, as well as “any digital assets with a market value of more than $500 billion on average during the previous calendar year.”

Only under those circumstances Bitcoin It will currently be allowed. But the bill includes language stating that a treasurer may engage in “lending or staking” of digital assets, noting the process by which users Proof of interest networks He loves Ethereum and Solana You can earn rewards.

The allocations will be a maximum of 10% of the state’s general funds. As of June 30, the Treasury Department maintained a balance of $3.6 billion, according to a report Annual report.

Ammon's bill, which calls for the creation of a strategic reserve, echoes calls made by President-elect Donald Trump during his election campaign last year. At a bitcoin conference in Nashville last summer, Trump told attendees to “never sell your bitcoins,” saying the United States would do so. Create a Bitcoin stock.

At the time, Trump called for using money seized by the US government to create the stockpile. Since then, Sen. Cynthia Lummis (R-Wis.) has secured the position foot Bitcoin law, which will enable the government to purchase up to 1 million bitcoins over a five-year period.

Crypto has OGs like entrepreneur and former BitMEX CEO Arthur Hayes He expressed his doubt That Trump could quickly create a strategic reserve of Bitcoin. States like Texas, Pennsylvania and Ohio also have representatives Proposed invoices To create their own strategic Bitcoin reserves.

Regarding Bitcoin's status on New Hampshire's state balance sheet, Ammon said he had a "very brief conversation" with New Hampshire State Treasurer Monica Misappelli about the bill yesterday, and doesn't yet know if she's "keen on the idea" yet.

Mezzapelle declined to comment DecryptionSaying that she had not yet been able to review the text of the proposed bill.

Since 1920, New Hampshire has held its first presidential primary, allowing voters to have their say on the party's nominees before other states. Ammon said Decryption Along these lines, there is no reason why New Hampshire could not be the first to create a Bitcoin reserve.

“The last country to build up Bitcoin reserves will lose,” he said. “It is urgent that states act sooner rather than later, and this requires some education on the part of state officials.”

Modified by Andrew Hayward