New Hampshire Weighs $100 Million Bitcoin Bond Plan Amid Volatility Concerns

New Hampshire is set to review a plan for up to $100 million in Bitcoin-backed bonds. The state's Governor and Executive Council will hold a public hearing on Wednesday to decide whether to approve the plan. If approved, it would be one of the first municipal bond projects in the US linked to Bitcoin.

The bonds would help finance private Bitcoin purchases through a company connected to CleanSpark, a Bitcoin miner. The state would act as a middleman by issuing the bonds, while the private borrower is responsible for paying investors back. This means taxpayer money is not at risk, according to officials.

Governor Kelly Ayotte has called the idea a way to attract investment and make New Hampshire a leader in digital finance without using public funds. The state has been one of the most crypto-friendly in the US, having created a strategic Bitcoin reserve in 2025.

However, financial experts warn that Bitcoin's price can change quickly. If the value of the Bitcoin used as collateral drops too much, around 12.5%, the bonds could be forced into early liquidation.