New Hampshire Council votes against $100 million Bitcoin bonds

Policymakers on New Hampshire’s Executive Council have voted against a proposal that would have allowed the state to issue $100 million in Bitcoin (BTC)-backed bonds.

At a hearing on Wednesday, the five-member panel voted 3-2 against the New Hampshire Business Finance Authority’s (BFA) proposed issuance of $100 million in BTC-backed bonds. The proposed investments, which the authority approved in November 2025, already had the support of Gov. Kelly Ayotte.

“It was a very short-sighted decision” said state Rep. Keith Ammon in a Thursday X post after the vote. “I can’t believe I witnessed this in person. They should gather all the relevant facts and information and reconsider their vote at a future meeting.”

Councilors Karen Liot Hill, Dave Wheeler and Janet Stevens voted against the measure, while Joseph Kenney and John Stephen approved it. The crypto investment vehicles, issued by the BFA and with CleanSpark providing BTC as collateral, would have marked New Hampshire’s continued endorsement of digital asset policies, following its May 2025 Crypto Reserves Act.

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Although BTC-backed bonds enjoy support from many in the crypto industry, some experts warned against the proposalsaying it posed a “substantial risk” to New Hampshire residents. Moody’s awarded the Bitcoin bond a provisional Ba2 grade in March.

Will New Hampshire join the prediction markets’ fight against the CFTC?

While gambling authorities in many US states have already filed lawsuits against prediction market platforms like Kalshi and Polymarket over sports betting, some have speculated that New Hampshire could join the legal battle challenging the authority of the Commodity Futures Trading Commission (CFTC). State Sen. Tim Lang reportedly planned to introduce legislation restricting prediction markets in New Hampshire in April, but as of Friday, the platforms were still active in the state.

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