I am writing to urge you to oppose HB302, regarding investment by the state in cryptocurrencies. As a software professional, I have long been involved with commercial cryptography, and was initially in favor of cryptography-based digital currency. However, cryptocurrencies have failed to meet their initial promise, and have instead become, in the words of Stephen Diehl, the tool of "planet-incinerating Ponzi grifters". "planet incinerating" because "proof of work" used by bitcoin is essentially proof of squandered electricity. These are purely-speculative devices with no inherent value, and, unlike, say, common stocks, no value to society. The state of NH should not be lending its prestige to such a swindle.
HB302
House · 2025 sessionRepublicanSigned into lawState investment in crypto and metals
AIAuthorizes the state treasurer to invest state funds in precious metals and digital assets.
relative to enabling the state treasury to invest in precious metals and digital assets.
Status
Signed into law · May 7, 2025- ✓Introduced
- ✓House
- ✓Senate
- ✓Governor
- ✓Law
Division of testimony
29 submissionsIt's absolutely foolhardy to invest the taxpayers' money in a market that is so volatile and unregulated. Please do not allow the state to invest in cryptocurrency.
Precious metals and digital assets are too unstable. Most financial advisors would recommend other investment options.
Precious Metals are already a dangerous and volatile asset, Cryptocurrency and digital assets are on another level. You are practically burning money, since if this bill passes, the state will absolutely be scammed of its investment.
My name is Christopher Laurent. I’ve been a taxpaying member of New Hampshire, my whole life, and I would love to see New Hampshire be one of the states that gets on board early with this new and exciting technology being made available to us in crypto
As a proud 34-year resident of New Hampshire, I support HB 302 and establishing a State Bitcoin strategic reserve. This legislation will set a powerful precedent, showcasing forward-thinking leadership and instilling a strong sense of optimism for our state's economic future. By being the first in the nation to take this step, New Hampshire could redefine state-level financial strategies in the digital age.
Do not engage in foolishness. Not one representative understands blockchain technology, even though some fool themselves to think they are so smart. Citizens can gamble; Government shall not! Citizens preserve wealth for decades into the future; Governments shall not tax more than is necessary for the next budget cycle. Governments do not accumulate wealth. Every economics think tank (like Mises Institute) and freedom consortium (like JBS) has already spoken on the evils and pitfalls of blockchain technology in regard to digital currency. The answer always comes back DONT DO IT. This technology empowers the entire banking system to surveil even the most mundane of citizens activities and keep those records to manipulate and blackmail, at will, those very citizens.
"Digital assets" (crypto currency) has been wildly volatile. It is not a safe investment for our tax dollars.
I absolutely do NOT want state funds going into crypto. Not enough people understand it so it would be very easy to "game" the system. I don't trust my government to give them that power.
Dear Chair and Members of the Commerce and Consumer Affairs Committee, I am here today to express my strong support for the creation of a Bitcoin Strategic Reserve (bill introduced by Rep. Keith Ammon), in New Hampshire, with an important amendment: the legislation should explicitly specify “Bitcoin” rather than the broader term “cryptocurrency.” Bitcoin is a distinct, decentralized, and transparent asset with unmatched security, while many other cryptocurrencies lack these qualities and carry greater risks. New Hampshire has a proud tradition of leadership: we were the first to declare independence, adopt a state constitution, and hold the first presidential primary. By adopting Bitcoin strategically, we can once again lead the nation—ensuring New Hampshire remains a hub of innovation, economic growth, and fiscal resilience. I urge you to amend the bill and position NH at the forefront of the Bitcoin economy. Thank you for your time and consideration. Long time NH resident and Bitcoin enthusiast
Please vote NO! This is so wrong.
We need fiscal responsibility! We do not need to have our precious dollars invested in risky investments - especially crypto knowing its history. The people of this state are already struggling to even live here and pay their taxes. What happens if the state loses big time with crypto - a scenario that is not impossible at all - and we have that tax burden as well. Terrible idea!!!
Digital assets, crypto, is not a good idea. Crypto requires a lot of energy. Countries doing well with this have invested in alternate energy positioning them well for growth. The US has not and Trump is not a supporter of new energy sources.
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