BeInCrypto reported that the U.S. state of New Hampshire will deliberate and vote on an issuance plan for $100 million worth of Bitcoin-backed bonds on the 8th (local time). The New Hampshire Executive Council, consisting of the Governor and five executive councilors, will hold a public hearing, followed by a vote. If approved, it would mark the final administrative step for the issuance of the world's first Bitcoin-backed municipal bonds. BeInCrypto explained, "These bonds are issued with Bitcoin as collateral and include a price-linked liquidation clause that mandates the forced sale of collateral due to price fluctuations to protect investor repayments. If the Bitcoin collateralization ratio falls to 140%, the collateral will be forcibly liquidated, and the bonds will be redeemed early. This means that if the BTC price drops by approximately 12.5% from the issuance time, the collateral maintenance ratio could fall below the standard."
