municipal bond

Bitcoin

2026-07-24 00:50:17

Moody’s Assigns Provisional Ba2 Rating to New Hampshire Bitcoin-Backed Municipal Bond

Moody’s gave a provisional Ba2 rating to New Hampshire’s $100 million Bitcoin-backed municipal bond. The structure uses roughly 160% Bitcoin collateral, with BitGo as custodian, and remains subject to final legal documentation.

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bitcoin-backe

2026-07-02 18:00:14

New Hampshire’s Bitcoin-Backed Municipal Bond Moves Closer to Issuance After Moody’s Rating

A groundbreaking $100 million municipal bond backed by bitcoin collateral has received a Ba2 rating from Moody’s Investors Service, two notches below investment grade. The bond, structured by the New Hampshire Business Finance Authority (BFA), involves bitcoin miner CleanSpark posting bitcoin as collateral. Investors gain fixed payments plus upside from bitcoin price appreciation, while downside protection triggers liquidation if bitcoin falls below a threshold. No taxpayer funds back the bond. Wave Digital Assets handles administration, BitGo provides cold storage custody. Governor Kelly Ayotte supported the initiative. If successful, the bond could establish a template for crypto-backed municipal debt, marking a milestone in integrating digital assets into public finance.

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bitcoin

2026-07-02 17:45:14

New Hampshire's Bitcoin-Backed Municipal Bond Moves Closer to Issuance With Moody's Rating

A first-of-its-kind municipal bond backed by bitcoin collateral has received a Ba2 sub-investment-grade rating from Moody's, advancing toward a potential $100 million issuance. The bond, structured by the New Hampshire Business Finance Authority, uses bitcoin posted by borrower CleanSpark to fund payments while offering investors upside exposure to price appreciation. Downside protection includes liquidation of collateral if bitcoin falls below a threshold. No taxpayer funds are at risk. Wave Digital Assets handles administration, BitGo provides cold storage custody. The bond's volatility risk is underscored by bitcoin's ~50% decline from its October 2025 peak near $126,000. Proponents argue the structure could create a new hybrid asset class bridging digital assets and municipal finance. No pricing date has been set.

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