PANews reported on April 1st, citing Bloomberg, that the New Hampshire Department of Business and Finance plans to issue $100 million in Bitcoin-backed municipal bonds, marking the first financial product to combine high-risk crypto assets with traditional safe assets. The bonds received a Moody's Ba2 rating, two notches below investment grade. Principal and interest will be paid from proceeds generated by the Bitcoin collateral. If the price of Bitcoin falls below a certain threshold, the trust will be liquidated to fully repay bondholders. Wave Digital Assets will manage day-to-day trading, BitGo Bank & Trust will act as custodian, and Bitcoin mining company CleanSpark will provide the funds and Bitcoin collateral. The Governor of New Hampshire stated that this move creates new investment opportunities for the state without involving state funds or taxpayer risk.