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Bill would let New Hampshire treasurer invest in gold and large‑cap digital assets; supporters call it inflation hedge, critics cite volatility and constitution
Summary
Representative Keith Ammon asked the committee to authorize the state treasurer to invest limited amounts of state reserves in precious metals and large‑cap digital assets, saying small allocations can hedge inflation.
Representative Keith Ammon told the committee House Bill 302 would add precious metals and ‘‘digital assets’’ above a specified market‑capitalization threshold to the list of authorized investments for the state treasury, and suggested the easiest implementation would be through exchange‑traded products rather than custodying bullion.
Why it matters: the proposal would expand the treasury’s investment toolbox and could expose public reserves to new asset classes. Supporters framed the change as a modest, optional hedge against inflation and declining purchasing power; critics warned of volatility and legal constraints.
Sponsor pitch and numbers cited Ammon argued that a small allocation of state funds to scarce assets like gold or Bitcoin could protect long‑term purchasing power. During…
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