New Hampshire rejects proposed Bitcoin bond
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- New Hampshire has rejected a proposed state-backed Bitcoin bond in a 3-2 vote.
- The bond would have supported up to US$100 million for Bitcoin mining company CleanSpark.
- Supporters said they will continue pushing for the project despite the setback.
New Hampshire has rejected a proposal to launch what could have been the first state-backed Bitcoin (CRYPTO:BTC) bond.
The state's Executive Council voted 3-2 against the plan, ending the project at its final stage of government approval.
The bond would have been issued by the state's Business Finance Authority to support a private bond of up to US$100 million for Bitcoin mining and data centre company CleanSpark.
Moody's Ratings had assigned the proposed bond a Ba2 rating only a few months before the council's vote.
“It was an extremely short-sighted decision,” said New Hampshire House Majority Floor Leader Keith Ammon.
Ammon said the vote may have been influenced by the election year and added that supporters would continue working to revive the proposal.
New Hampshire remains active in crypto policy after becoming the first US state to establish a cryptocurrency reserve last year.
At the time of reporting, Bitcoin price was $64,137.50.
