United States Embraces Bitcoin! New Hampshire and Florida Advance Bitcoin Reserve Bills

Two U.S. states have made waves in the cryptocurrency world by advancing their Bitcoin reserve bills. This signals a shift toward digital asset adoption in state governance. On April 10, New Hampshire’s House and Florida’s House Banking and Insurance Committee took significant steps to establish their own Bitcoin reserves. This development sets up the stage for higher Bitcoin adoption and economic innovation.

New Hampshire Pioneers Bitcoin Reserve

New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a narrow margin of 192-170 votes. If this bill gets approved by the Senate and signed into law by Governor Kelly Ayotte, it would allow the state treasury to invest up to 10% of the general fund in Bitcoin and precious metals. The bill includes strict guidelines, permitting investments only in cryptocurrencies with a market cap of more than $500 billion. This criterion is met only by Bitcoin as of now. 

WATCH: New Hampshire House passes 'Bitcoin Rights' Bill

HB 639 protects self-custody, mining and node operations, and exemptions from money transmitter laws pic.twitter.com/2NCM9Q0OrU

— Bitcoin Laws (@Bitcoin_Laws) April 11, 2025

During the debate, Democrat Representative Terry Spahr expressed concerns about the bill’s necessity and security concerns. He stated,  “Unbeknownst to the committee and to the sponsor […] the treasurer testified that they already have that authority.” Republican Representative countered Spahr’s concerns with optimism, saying, “The potential for a large amount of money being earned by the state in these investments” makes this bill vital, he asserted.

Florida Takes Bold Step Towards Bitcoin Adoption

On the same day, Florida’s House Insurance and Banking Committee unanimously passed HB487, a Bitcoin reserve bill allowing 10% of state funds to be spent to acquire Bitcoin. Republican Representative Webster Barnaby led the legislation, urging colleagues to support it. He stated that it is a move that would “put Florida at the leading edge of this very new technology.” 

WATCH: Florida House Committee PASSES Bitcoin Reserve Bill

The Insurance and Banking Committee passed HB 487 unanimously today

Including moving testimony from bill sponsor Rep. Webster Barnaby pic.twitter.com/myAlNvtFl9

— Bitcoin Laws (@Bitcoin_Laws) April 10, 2025

The bill gives several options to the government for direct Bitcoin adoption through the right sources or exchange-traded products while ensuring maximum security. To be passed as a law, the bill must go through three more committees and then gain a majority vote in Florida’s House. 

The Florida Bitcoin Reserve Bill, published on X

As a scramble to establish Bitcoin reserves begins, Bitcoin adoption is bound to get a massive boost in the coming times. With that in mind, let’s take a look at how the Bitcoin price is performing on the charts. 

BTC Price Analysis: Bitcoin Slumps, $81,700 Resistance The Next Challenge

Bitcoin commenced trading at $82,500 yesterday. A death cross late on the previous day sent Bitcoin into a slow downtrend. Bitcoin reached $81,600 by 4:35 UTC. For the rest of the morning, Bitcoin seemed to consolidate around the same price, as a lack of buying pressure was noticed. Slight movements were also sparking the RSI into the overbought region, as the uptrend met severe resistance at $82,315. At 13:30, Bitcoin finally broke out of the range, abandoning the $81,500 support. One final attempt came at 14:00 UTC, but was met by rejection at $81,714.

Chart 1: published on TradingView, April 11, 2025

Bitcoin slumped in the next two hours, falling to $78,600, thanks to the big death cross on the MACD at 15:05. With the RSI in the oversold region, a trend reversal came in for Bitcoin, but the buying pressure failed to take advantage of the conditions as the BItcoin price plateaued around the $80,000 mark and faced reversal. Early on April 11, however, an uptrend formed, as Bitcoin was seen climbing to $81,000 as of the latest update. 

BTC Price Prediction: Can Bitcoin Stably Go to $82,000 Today?

The late slump yesterday seems to have reversed some of Bitcoin’s progress in the past few days. Given that, Bitcoin again seems to be facing a challenge at $82,000. As of now, with Bitcoin peaking on its current uptrend and the RSI looking ready to go overbought, a reversal back to support seems the likely play. If Bitcoin can prevent itself from falling to the support and find a trend reversal closer to the resistance, a resistance break may be on the cards.