Episode Details

New Hampshire lawmakers are poised to greenlight $100 million in Bitcoin-backed bonds, a bold move by the state’s Business Finance Authority to tap into digital assets without risking taxpayer dollars. Already approved by the authority, the proposal now awaits Governor Kelly Ayotte’s signature. This follows New Hampshire’s historic 2025 law allowing a 5% Bitcoin reserve, positioning the state as a pioneer in crypto adoption. Yet, experts warn of Bitcoin’s volatility—even with private collateral, the bonds carry high risk, earning a speculative Ba2 rating from Moody’s. The idea echoes El Salvador’s ill-fated “Volcano Bonds” from 2022, which never materialized amid crypto market turbulence.

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