North Dakota and New Hampshire to Invest in Bitcoin and Digital Assets

North Dakota and New Hampshire introduce bills to invest in Bitcoin and digital assets, aiming to protect finances from inflation.

North Dakota is the latest state to consider adding Bitcoin to its financial assets. The North Dakota State Legislature introduced Resolution 3001 on Friday. This resolution calls for investing “select state funds in digital assets and precious metals.”

Resolution 3001 is the one for the protection of the State’s finances from inflation. North Dakota has diversified its investments in the hope that traditional assets will not have to be relied on so heavily. The changing economic reality made smart investments imperative.

The resolution was introduced by several lawmakers. The bill’s representatives are Nathan Toman, Matthew Heilman, Jared Hendrix, Daniel Johnston, SuAnn Olson and Todd Porter. Joining him in supporting the resolution are Senators Jeff Barta and Bob Paulson. However, they feel it is important to analyze new investment prospects.

The resolution also says that the state will have to evolve to new investment choices. ‘According to new economic conditions and evolving investment opportunities, the state’s financial resources need to be prudently invested,’ it says.

North Dakota and New Hampshire Moving Toward Bitcoin as a Hedge Against Inflation

North Dakota is not the only state that is exploring Bitcoin. Similar legislation has also been introduced in New Hampshire. Dennis Porter, CEO of the Satoshi Action Fund, shared that the New Hampshire bill was introduced by Representative Keith Ammon. Ammon represents the 40th District and is a Republican.

However, other states are also considering Bitcoin as a strategic reserve. Other states, like Florida and Texas, and states in earlier stages of deliberation, such as Pennsylvania and Ohio, are looking into creating Bitcoin reserves. They want to stabilize their financial situation by adding digital assets.

Louisiana took another step when it accepted Bitcoin and the USDC stablecoin for payments in September. This denotes that some states are already on board of cryptocurrencies in the transactions.

Consequently, North Dakota’s resolution is a clear indication that states have started to seriously consider Bitcoin. As more states consider adding Bitcoin to their portfolios, it’s obvious that digital assets are being talked about. States looking for ways to protect their finances from inflation could continue that trend.