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The Coin Rise 2025-01-11 08:47:49

New Hampshire and North Dakota Push for State Bitcoin Reserves

New Hampshire and North Dakota have taken significant steps toward embracing Bitcoin, introducing legislation to establish strategic cryptocurrency reserves. The New Hampshire bill, championed by Representative Keith Ammon, opts for the broader term “digital assets” instead of explicitly naming Bitcoin. This careful phrasing, according to Dennis Porter, CEO of the Satoshi Action Fund, aims to avoid political hurdles while clearly targeting Bitcoin. States Eye Strategic Bitcoin Reserves On the same day, North Dakota followed suit, with its bill spearheaded by Representatives Nathan Toman, Josh Christy, and Senator Jeff Barta. With 11 sponsors already on board, the North Dakota proposal appears to have strong bipartisan support. These states join Pennsylvania, which introduced similar legislation in November. Pennsylvania Representative Mike Cabell described Bitcoin as a hedge against inflation, citing economic instability as a driving factor for considering such measures. The Satoshi Action Fund has played a pivotal role in shaping these legislative efforts, highlighting the growing interest among states to diversify their treasuries with Bitcoin. Trump’s Crypto Vision Fuels Momentum The push for state-level Bitcoin reserves has gained traction against the backdrop of Donald Trump’s pro-crypto campaign promises. Throughout his presidential bid, Trump vowed to position the U.S. as a global leader in cryptocurrency and even hinted at directing the Treasury Department to amass significant Bitcoin reserves. Now, with Trump set to take office, industry leaders and policymakers alike are eager to see if these promises will materialize. Strike CEO Jack Mallers has speculated that Trump could sign an executive order on his first day in office, declaring Bitcoin a reserve asset. However, skepticism persists. Galaxy Digital founder Mike Novogratz and other observers caution against high expectations, arguing that creating a national Bitcoin reserve may face considerable regulatory and logistical challenges. On Polymarket, bettors place the likelihood of Trump establishing a Bitcoin reserve within his first 100 days at just 27%, down from 45% in November. A New Chapter for Crypto in the U.S. The introduction of Bitcoin reserve legislation in multiple states signals growing confidence in cryptocurrency as a financial safeguard. While Trump’s upcoming presidency has sparked excitement among crypto advocates, the practical implementation of such bold measures remains uncertain. Still, the combined efforts of state legislators and federal promises suggest that Bitcoin’s role in the U.S. economy may soon expand in unprecedented ways. The post New Hampshire and North Dakota Push for State Bitcoin Reserves appeared first on TheCoinrise.com .

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