Behind this legislative battle is a fierce confrontation between the Republican and Democratic parties over whether "public funds should embrace high-risk assets."

Republican lawmaker Keith Ammon stated, "Bitcoin is a hedge tool for the 21st century. Rather than letting the dollar be consumed by inflation, it is better to make New Hampshire a beacon of financial innovation."
Democratic Congressman Terry Spahr warned, "Using taxpayers' money to buy volatile assets is no different from building a vault on a volcano."

Risk mitigation design: A 5% capital cap and mandatory custody clauses weaken the opposition's firepower;
Bipartisan lobbying power: The nonprofit organization Satoshi Action successfully persuaded moderates through 12 academic papers and 220,000 voter letters.
Texas and Florida assist: The states promoting Bitcoin reserves simultaneously create a "legislative cluster effect," reducing the trial-and-error pressure on individual states.
The Butterfly Effect: A Chain Reaction from State Finances to National Strategy The ice-breaking move in New Hampshire is triggering a "paradigm shift" in the American financial system:
1. State-level competition intensifies: Texas plans to allocate $250 million from its Economic Stabilization Fund to purchase BTC, and Florida's HB487 bill has entered the final review by the committee;
2. Federal policy forcing mechanism: The cryptocurrency executive order signed by Trump in March requires the establishment of a national Bitcoin reserve, and state-level practices may become a testing ground for federal legislation;
3. Underlying currents of global sovereign funds: Brazil and Poland have initiated similar studies, and Salvadoran President Bukele has called out, "Welcome to join the Bitcoin nation alliance!"

This experiment is destined to be surrounded by controversy:
Supporters' calculations: The scarcity of 21 million bitcoins, low correlation with traditional assets, can hedge against the devaluation risk of the dollar;
Opposition Alert: The volatility of Bitcoin plummeting 12% in a single week in April 2025 exposes $180 million in investments to the risk of unrealized losses;
Third path: Morgan Stanley suggests adopting a "dynamic investment + volatility-linked position" model to tame the market's wildness with algorithms.
When the New Hampshire Treasury presses the "Buy BTC" confirmation button, a silent revolution regarding monetary sovereignty has already begun. This experiment may fail, but as bill sponsor Dennis Porter said, "We are not betting on the price of Bitcoin; we are betting on a more open and censorship-resistant financial future."