Ant Thornton, the state senator for New Mexico District 19, said that New Hampshire's establishment of a bitcoin reserve sets a precedent that other states, including New Mexico, are likely to follow.
"I was hoping New Mexico would lead the charge when I introduced SB275 "STRATEGIC BITCOIN RESERVE ACT" in this year's legislation," said Anthony L. Thornton, New Mexico State Senator from 198th District (R). "However, congratulations to New Hampshire and Governor Kelly Ayotte. Other states WILL follow their lead."
In May 2025, New Hampshire became the first U.S. state to create a strategic bitcoin reserve by passing House Bill 302. According to Business Insider, the law authorizes the state treasurer to invest up to 5% of public funds in digital assets with a market capitalization above $500 billion—effectively limiting the reserve to Bitcoin. The assets are to be held through secure custody providers or exchange-traded funds. This move aims to diversify the state's financial holdings and hedge against inflation.
At least 15 U.S. states, including Utah, Texas, Arizona, and Illinois, are exploring or advancing legislation to establish bitcoin reserves as of early 2025. According to Fortune, this trend reflects growing interest in using cryptocurrency to diversify public funds and mitigate inflation risks. While some states have advanced legislation, others remain in exploratory or proposal phases, demonstrating a mixed pace of adoption nationwide.
New Mexico's Senate Bill 275 was introduced by Senator Anthony L. Thornton on February 4, 2025. As said by the New Mexico Legislature, the bill would allow the state treasurer and investment council to invest up to 5% of select permanent funds into Bitcoin. The bill is currently under review by the Senate Tax, Business, and Transportation Committee. It reflects a broader effort among U.S. states to incorporate digital assets into public finance strategies.
Thornton is a Republican state senator representing District 19 in the New Mexico Senate. According to Ballotpedia, he assumed office in 2025 and brings a background in aerospace engineering. Thornton’s legislative focus includes finance and technology, as demonstrated by his sponsorship of Senate Bill 275.
