Bloomberg: New Hampshire Business Finance Authority eyes roughly $100 million Bitcoin-backed muni bond issue, Moody's rates it Ba2

The New Hampshire Business Finance Authority is preparing a municipal bond sale of about $100 million backed by Bitcoin collateral, Bloomberg reported. Moody's assigned the deal a Ba2 rating, two notches below investment grade. Debt service is expected to be funded from proceeds tied to the Bitcoin collateral, with price-triggered liquidation mechanisms designed to protect repayment. The bonds will not be supported by the state's credit or taxing power.