New Hampshire’s $100M Bitcoin Bond: A Dance of Frogs and Gold! 🐸🪙

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In the quiet duchy of New Hampshire, where the air is crisp and the coffee is colder than a witch’s heart, a tale of fiscal wizardry began to unfurl. The state, in a move that would make a jester weep with joy, has sanctioned a $100 million municipal bond backed by Bitcoin-a feat so audacious, one might imagine the cryptocurrency itself tipping its hat in salute. 🎩

The New Hampshire Business Finance Authority, that noble assembly of financiers and dreamers, convened on Nov. 17 to deliberate over a proposal as intricate as a Russian nesting doll. Minutes reveal they sought to “consider approving a resolution authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency.” A task as daunting as herding cats with PhDs. 🐱🎓

The following day, with the gravity of a funeral for a forgotten spreadsheet, the directors voted to “approve the preliminary official intent… to issue a taxable conduit revenue bond.” The bond, they claimed, would be a bridge between tradition and innovation-though one might argue it’s a bridge to nowhere, paved with glitter and hope. ✨

This grand experiment, as reported by Crypto in America, is backed by Bitcoin (BTC), allowing companies to borrow against overcollateralized BTC held by a private custodian. The state, bless its bureaucratic soul, remains uninvolved, leaving the BFA to oversee a private deal while BitGo, the dragon guarding the treasure, ensures investors aren’t left clutching empty socks. 🐉

Enter Wave Digital Assets and Rosemawr Management, the architects of this financial ballet. Their goal? To “bridge traditional fixed income with digital assets” for institutional investors. Les Borsai, co-founder of Wave, declared this a “collaboration between public and private sectors,” a phrase so poetic it could earn a Nobel in corporate jargon. 🏆

The borrower, in a display of fiscal prudence (or madness), must post 160% of the bond’s value in Bitcoin. Should BTC dip below 130%, a liquidation event will occur-like a magician’s rabbit vanishing mid-trick, but with more spreadsheets. The proceeds? They’ll fund the Bitcoin Economic Development Fund, where local entrepreneurs will sip virtual lattes and chase moonshots. ☕🚀

New Hampshire, ever the pioneer, previously became the first U.S. state to allow government investments in crypto. Governor Kelly Ayotte, a woman of vision, signed a bill permitting municipalities to “invest in cryptocurrency and precious metals.” One wonders if the precious metals are just a cover for the real treasure: Bitcoin. 🤔

The state also toils to deregulate local crypto mining, a move that has local committees debating like philosophers at a tavern. In late October, a committee deadlocked twice before sending the measure for further review. Perhaps they needed stronger tea. 🍵

Brendan Cochrane, an AML specialist with a flair for hyperbole, once argued New Hampshire could become an alternative to the Bahamas for crypto companies. A bold claim, but then again, who needs palm trees when you have tax incentives and a thriving community of blockchain enthusiasts? 🌴💻

Back in 2015, New Hampshire nearly allowed tax payments in Bitcoin-a fairy tale of missed opportunities. The bill failed in 2016, but the attempt proved the state’s early flirtation with crypto. By 2016, advocates already hailed it as a Bitcoin-friendly haven. One can only imagine the pride of the local squirrels, hoarding digital coins instead of acorns. 🐿️🪙

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2025-11-19 15:48