According to QCP (@QCPgroup), Bitcoin jumped 3% to $97,000 following both favorable FX flows and a landmark policy development: New Hampshire has become the first U.S. state to approve a Bitcoin reserve, allowing up to 5% of public funds to be allocated to crypto, with Bitcoin currently the sole qualifying asset. This regulatory milestone signals growing institutional acceptance and could drive further crypto adoption among U.S. states, supporting bullish sentiment and trading volumes in the cryptocurrency market (Source: QCPgroup on Twitter, May 8, 2025).

According to Dan Held, New Hampshire has become the first state in the United States to officially authorize a Bitcoin strategic reserve, marking a significant milestone for institutional adoption of cryptocurrency (source: Dan Held on Twitter, May 6, 2025). This move is expected to boost investor confidence in Bitcoin and could lead to increased interest from both public and private entities. Traders should monitor for potential upward price movements and increased liquidity in BTC and related crypto assets as institutional demand rises. The establishment of a state-level Bitcoin reserve may also set a precedent for other states, potentially accelerating mainstream adoption and positively impacting overall crypto market sentiment.