Bitcoin Reserve Bills Surge in U.S. States, Can BTC Price Stay Above $80k?

States across the U.S. are warming up to the idea of holding Bitcoin as part of their financial reserves. On April 10, New Hampshire, Florida took key steps in that direction, moving forward with bills that let them invest in Bitcoin. Currently, BTC price trades at $80,791.42; investors are observing the market keenly to see whether Bitcoin rises above $81k or drops down from $80k. 

New Hampshire’s Bill: Close Vote, Big Move

New Hampshire’s House passed a bill called HB302 by just a 192-179 vote,  a narrow win, but a win nonetheless. If it clears the state Senate and gets signed by Governor Kelly Ayotte, it’ll let the state treasurer invest up to 10% of certain funds (like the general fund) in precious metals and digital assets.

But there’s a catch: The bill only allows investment in cryptocurrencies with a market cap over $500 billion. 

Some lawmakers had doubts. One, Democrat Terry Spahr, said the bill might be unnecessary since the treasurer already has the power to invest in digital assets. He also pointed out that the crypto world is constantly changing, and locking the state into rigid rules might not be the right move.

Still, others see the potential. Republican Jordan Ulery backed the bill, saying it could mean financial gains for the state. It’s clear there’s a division in opinion, but New Hampshire is officially in the game now.

Florida Joins the Party

Meanwhile, down in Florida, things moved a little smoother. The state’s House Insurance and Banking Committee unanimously passed HB487, a similar Bitcoin reserve bill. That means zero pushback in this round, a strong start.

The bill needs to clear a few more committees before it can reach the full House, but it’s picking up speed. If passed, it would allow the state’s chief financial officer to invest up to 10% of certain public funds, like the General Revenue Fund, in Bitcoin. Investments could be made directly, through qualified custodians, or via exchange-traded products.

The bill’s sponsor, Webster Barnaby, made a passionate pitch before the vote. He believes this move could put Florida “on the leading edge” of digital asset adoption. Given the momentum, he might be right.

Arizona: Quietly Leading the Way

While New Hampshire and Florida are getting headlines now, Arizona has been making quiet but steady progress. Two of its Bitcoin reserve bills- SB1373 and SB1025- just cleared the House Rules Committee and are awaiting a full vote.

If they pass and get signed by Governor Katie Hobbs, Arizona might become the first state to officially hold Bitcoin in its reserves. It’s a tight race, and all eyes are watching.

What Does This Mean for the BTC Price?

None of this instantly changes the BTC price. But it says something important: Bitcoin is slowly moving into mainstream finance. State governments getting involved adds a whole new layer of legitimacy.

As more institutions invest in Bitcoin, the more it boosts investors’ confidence. It’s still early days, but these moves matter.