Why this Bitcoin-Friendly Lawmaker Carries a US Debt Clock in His Pocket
New Hampshire has become the first U.S. state to legally accumulate Bitcoin, with Arizona following suit. Rep. Keith Ammon emphasizes that states are competing against the federal government, which has accrued approximately $37 trillion in debt. He argues that the federal government will need to print more money to manage this debt, leading to currency devaluation. Ammon's Bitcoin initiative aims to protect New Hampshire from the declining purchasing power of the dollar, which has eroded by 25% in four years. The bill allows the state treasurer to invest a small percentage of resources in Bitcoin, ensuring a balanced approach to risk management to maintain the state's credit rating. Other states, including Texas, are considering similar measures, while some have rejected Bitcoin-related legislation.
