[New Hampshire legislators propose adding Bitcoin to state reserves]
New Hampshire Congressman Keith Ammon has proposed adding Bitcoin to the state’s reserves, potentially setting a precedent in the United States.
Ammon said on X on Sunday that the state should consider investing some of its reserves in Bitcoin exchange-traded funds (ETFs), noting that this could lead to astronomical returns.
"Should New Hampshire investigate whether to put a small portion of its reserves into a Bitcoin ETF? Absolutely," Ammon posted.
He pointed out that if 5% (US$4.65 million, approximately NT$140 million) of the Rainy Day Fund of US$93 million (approximately NT$930 million) had been invested in Bitcoin and held in 2016, the investment would now have increased to nearly 5%. billion US dollars (approximately NT$13.6 billion), with a return on investment (ROI) as high as 10,000%.
Ammon’s proposal comes as Bitcoin gains increasing attention from institutional investors. Financial giants like BlackRock and Fidelity have hinted at the growth of Bitcoin ETFs, including sovereign wealth funds and pension funds. Fidelity Vice President of Digital Assets Manuel Nordeste recently revealed that major pension funds and large banks have begun allocating Bitcoin through ETFs.
Ammon cited Ark Invest CEO Cathie Wood’s prediction that Bitcoin could reach $3.8 million by 2030 if institutional investors allocate more than 5% of their portfolios to Bitcoin.
"Assume Wood's prediction is accurate. If New Hampshire invests 5% of its $29 million (approximately NT$8.3 billion) Rainy Day Fund balance (US$14.5 million, approximately NT$4.2 billion) in a Bitcoin ETF at today's prices And if held until 2030, its value will be close to one billion US dollars (approximately NT$26 billion), with an ROI of 6,200%," Ammon added.
In support of his proposal, Ammon highlighted New Hampshire's outstanding debt with the Civil Service Retirement System and bonds worth nearly $1.3 billion, emphasizing the need for innovative solutions to relieve the state's fiscal pressure.
"How can we climb out of this hole? The answer may be right in front of us and deserves further investigation," he stressed.
If New Hampshire follows Ammon’s proposal, it would become the first U.S. state to include Bitcoin on its reserves.While other states, such as Florida, have shown interest in accepting Bitcoin for tax payments, no state has yet dared to include Bitcoin in its reserves.
El Salvador, meanwhile, remains a notable exception. The country is the only country to declare Bitcoin legal tender and include it in its national reserves. On Monday, El Salvador unveiled a website that allows anyone to track the country’s Bitcoin purchases and view its treasury holdings of Bitcoin.
