New Hampshire Advances First-Ever $100M Bitcoin Bond Initiative

New Hampshire is moving forward with a groundbreaking plan to issue the state’s first $100 million bitcoin bond, a development that could position it as a national leader in crypto-focused financial innovation. The proposal, advanced this week by the New Hampshire Business Finance Authority (NHBFA), would authorize bonds aimed at acquiring and holding digital currency, notably bitcoin (BTC). Although the NHBFA facilitates these types of conduit bonds, they are not backed by taxpayer funds. Instead, the structure relies on private-sector participation, with final approval pending a vote by the New Hampshire Executive Council.

According to NHBFA Executive Director James Key-Wallace, the bond is designed to provide a safe and effective capital-access tool for companies operating in the digital-asset ecosystem while ensuring that no state guarantees are involved. Any proceeds and crypto-related fees earned through the project will help establish the state’s first crypto-backed economic development fund, further supporting New Hampshire’s long-term innovation goals.

Wave Digital Assets and Rosemawr Management are leading advisory efforts, while BitGo will provide custody for the bitcoin collateral, adding institutional credibility and security to the structure. State Representative Keith Ammon, a well-known advocate for crypto legislation, described the initiative as a blueprint for future digital-asset-backed financial products. He emphasized that bitcoin’s long-term potential could help hedge against inflation and strengthen the state’s financial resilience. The planned two-year bond ultimately depends on bitcoin’s price performance, which has seen volatility over the past year, with a recent decline after months of steady gains.

New Hampshire has emerged as one of the most proactive U.S. states pursuing crypto-friendly policies. Earlier this year, it created the nation’s first state-level crypto reserve—well ahead of federal efforts still in the planning phase. As this bitcoin bond project moves closer to approval, New Hampshire continues to position itself at the forefront of digital-asset adoption and economic innovation.