Bitcoin officially enters the state government's "treasury", will a reserve boom begin?

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Author: Fairy, ChainCatcherEditor: TB, ChainCatcher A historic step! Bitcoin has officially entered the state government's "treasury." Last night, New Hampshire became the first state in the United States to pass the Bitcoin Strategic Reserve Act (HB 302), incorporating Bitcoin into its official asset reserves. This groundbreaking initiative, like the first flag, ignited the spark of transformation in the financial landscape, and the flames are spreading rapidly.  Small State, Big Ambition: The Icebreaking Journey of Bitcoin Reserves On the map of the United States, New Hampshire may not be particularly conspicuous. This land ranks fifth from the bottom in area and tenth from the bottom in population, with an actual GDP of about $96.5 billion in 2024, not exactly a heavyweight among the 50 states. However, this small state has shaped a distinct presence with its resounding state motto "Live Free or Die." New Hampshire has significant political symbolism as the first stop in the presidential primary elections in the United States, regarded by the media and politicians as an important political "touchstone" and barometer. This openness in both system and culture may be the key reason for its leading position in national digital asset policy. Today, it has become the first state in the U.S. to incorporate a "Bitcoin strategic reserve" into its state policy, once again playing the role of a policy "icebreaker." This legislation is not only symbolic but also acts as a signal, releasing clear policy signals to other states and encouraging more local governments to take substantial steps in the field of digital assets. According to data from Bitcoin Laws, there are currently 30 Bitcoin reserve bills being promoted across the United States. Among them, the SB1373 bill in Arizona has entered its final stage, while North Carolina's H92 and Texas's SB21 are under review in the state Senate; another 9 proposals have been rejected. The following is the latest progress on Bitcoin reserve legislation in various states of the United States (some states may submit multiple bills): Source: bitcoin reserve monitor Bitcoin enters the "circle of friends" of state financial assets. The HB 302 bill passed by New Hampshire is based on the policy model proposed by Satoshi Action and will officially take effect 60 days after passage. According to the bill, all digital assets must be held through a state-controlled multi-signature wallet, qualified custodians, or exchange-traded products listed in the United States to ensure security and transparency. The bill authorizes the treasury officials to purchase Bitcoin and other top digital assets, allowing reserves to acquire digital assets with a market cap exceeding $500 billion. Currently, only Bitcoin meets this standard. According to token circulation data, Ethereum needs to rise to about $4166, and SOL needs to rise to about $833 to be included in this reserve. To control volatility risks, the bill stipulates that digital assets can account for a maximum of 5% of state treasury funds. According to estimates by crypto KOL Phyrex, based on New Hampshire's total budget of $15.4 billion, the potential funds available for allocating digital assets amount to $770 million; even when taking the general fund size of $5.6 billion as a benchmark, there is still an investment space of $280 million.  Image source: Satoshi Action Fund National Bitcoin Reserve Plan is at a critical stage. The U.S. National Bitcoin Strategic Reserve Plan is also at a critical moment. On March 6, the Trump administration issued an executive order requiring the Secretary of the Treasury to submit an implementation report within 60 days, clarifying whether to initiate the reserve plan and the specific implementation path. Currently, this important date has arrived, and the market and political circles are focusing on this potential policy turning point. However, this plan is not without resistance, as Trump's new cryptocurrency policy faces strong opposition from the Democrats. On April 29, Democratic Congresswoman Maxine Waters blocked the hearing of the "Crypto Market Structure Act." On May 1, Democratic Congressman Elizabeth Warren and five colleagues submitted a 12-page joint letter to the Treasury Secretary criticizing the Trump administration's plan to include cryptoassets in the nation's strategic reserve, warning that the plan "could pose a systemic threat to the stability of the U.S. financial system." On May 4, four Democratic senators suddenly changed their stance and opposed the current version of the Republican-led stablecoin bill, the "GENIUS Act," calling for stronger anti-money laundering measures and scrutiny of foreign issuers. This shift significantly increased the uncertainty around the bill's prospects. Against this backdrop, Trump's Bitcoin strategic reserve plan is facing intense political pressure.  The collision between crypto assets and traditional financial systems may profoundly impact the financial landscape of the United States and even the world in the years to come. New Hampshire's pioneering step sets a benchmark for other local governments, inspiring more states to move towards the new era of digital assets. Although Trump's Bitcoin strategic reserve plan faces resistance from Democrats and other factions, it continues to push forward. An unprecedented transformation of policies and markets is unfolding.