New Hampshire has canceled its plans to undertake a $100 million U.S. Bitcoin (CRYPTO:$BTC) bond sale.
The state was preparing to hold the first rated Bitcoin-backed bond issued by an American state. However, the state government canceled the project at the last minute.
The cancellation comes after Moody's (NYSE:$MCO) had rated the Bitcoin bond, giving it a Ba2 rating.
The New Hampshire Executive Council, which reviews state financial actions, canceled the bond sale in a 3-2 vote that sided with people concerned about the state's financial reputation.
New Hampshire had been looking to back a private-sector bond of up to $100 million U.S. tied to Bitcoin mining company CleanSpark (NASDAQ:$CLSK).
New Hampshire, and other states such as Texas, established crypto policies as the price of Bitcoin soared in 2025.
However, those states now appear to be reconsidering after Bitcoin's price has been cut in half since last October to currently trade at $64,000 U.S.
New Hampshire had been the first U.S. state to establish a strategic Bitcoin reserve.
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