New Hampshire's Bold Bitcoin Bet: A State's Experiment with Crypto Bonds

New Hampshire is taking a big step into the world of digital currency. The state is trying to create a $100 million bond backed by bitcoin. This isn't a typical government project. Instead, a private company will handle the bond, and the New Hampshire Business Finance Authority (NHBFA) is supporting it. The NHBFA doesn't usually manage state bonds. It's more about encouraging private companies to do so. If everything goes as planned, this bond could be the first of its kind in the U. S. The NHBFA is a state organization focused on boosting the economy. Money from its bonds goes back into its operations. State Representative Keith Ammon has been a strong supporter of crypto in New Hampshire. He sees this bitcoin bond as a way to protect the state's money from inflation. He compares it to training wheels, helping the state get used to using digital currency. The bond will last for two years. Its success depends on the value of bitcoin going up. However, bitcoin's value has been dropping recently. It's down about 6% in the past year after a long period of growth. This experiment raises questions. Can a state really protect itself from inflation with crypto? Is bitcoin a safe bet for a government bond? Only time will tell if New Hampshire's bold move pays off.