New Hampshire Approves First $100 Million Bitcoin-Backed Bond in the U.S.

New Hampshire has made history by approving a $100 million municipal bond backed by Bitcoin, becoming the first state in the United States to do so. , approval came from the New Hampshire Business Finance Authority (BFA), which is also the group that recently allowed the state to place up to 5% of its treasury into digital assets.

This new bond lets approved companies borrow money using over-collateralized Bitcoin stored with BitGo, instead of using buildings, land, or other traditional assets. The money earned from fees and gains on the BTC collateral will help fund the state’s Bitcoin Economic Development Fund, a program created to support innovation, startups, and new business activity in New Hampshire.

Borrowing against crypto is common in private markets, but it has never been used in U.S. municipal finance, which is normally a very conservative, rule-heavy industry. By stepping into this space, New Hampshire is testing whether Bitcoin can operate as a trusted, high-grade asset inside government debt markets.

If this experiment works,inspire other states and cities to explore similar Bitcoin-backed financial products.

The bond was designed by Wave Digital Assets in partnership with municipal bond specialists at Rosemawr Management. Their goal was to create a bridge between digital assets and traditional bond markets using the same legal and regulatory standards that support long-standing government and corporate debt.

Wave co-founder Les Borsai explained that the goal is to build something institutional, compliant, and scalable worldwide.

Here’s the basic structure:

Despite the positive sentiment in the market, Bitcoin is still struggling to break out, even though it has climbed about 2% in the last 24 hours. BTC is trading near $91,000, but it continues to face heavy resistance at $93,350 and at $94,200, where a bearish trendline is capping the move. Bitcoin needs a strong close above $95,000 to confirm real bullish momentum.

At the same time, the broader crypto market is also trying to recover from recent losses. Ethereum is trading around $3,058, XRP is holding near $2.17, BNB is around $927, and Solana is near $138.