According to TechFlame, New Hampshire has become the first state in the U.S. to approve municipal bonds backed by Bitcoin—a milestone that could pave the way for digital assets to enter the global debt market, which is valued at $140 trillion. On Monday this week, the state’s Business Finance Authority (BFA) greenlit an unprecedented $100 million Bitcoin-collateralized "conduit bond." This bond allows businesses to borrow funds using "overcollateralized Bitcoin" held by a private custodian. (Note: "Overcollateralization" means the value of Bitcoin pledged exceeds the loan amount, reducing default risk.) Although the BFA is a state agency, the bond is not guaranteed by the state government or taxpayers. Instead, the BFA acts only as a "conduit"—approving and overseeing the transaction without assuming repayment risk. Investors' interests are secured by Bitcoin held in custody by BitGo. Just a few months ago, the Granite State also became the first in the U.S. to permit its treasury to allocate up to 5% of public funds into digital assets, establishing the nation’s first "Strategic Bitcoin Reserve."