- North Carolina plans to invest state funds in Bitcoin through a new legislative bill.
- The bill allows up to 10% of state reserves to go into Bitcoin exchange-traded products.
- Lawmakers will review the bill before deciding if North Carolina will invest public funds in Bitcoin.
North Carolina has introduced a HB 92 bill to invest state funds in Bitcoin presented by House Speaker Destin Hall, as the Strategic Bitcoin Reserve bill. This legislation proposes allocating up to 10% of state funds into Bitcoin-related investments. Lawmakers aim to integrate digital assets into public financial strategies.
Other states, including Florida and Kentucky, have pursued similar initiatives. The growing interest in digital assets aligns with national discussions on a potential U.S. Bitcoin reserve. Supporters believe this strategy could strengthen financial stability. North Carolina’s proposal follows broader political and economic shifts favoring cryptocurrency investments.
Investment Criteria and State Fund Allocations
The bill sets clear guidelines for digital asset investments. Cryptocurrencies with a market capitalization of at least $750 billion qualify. Bitcoin meets this threshold and remains the primary asset under consideration. The bill would allow Bitcoin investments in several state-managed funds if approved. They include public employee pensions, veterans’ home trust funds, and insurance reserves.
Representatives Mark Brody and Steve Ross co-sponsored the bill. Both lawmakers have long supported cryptocurrency adoption. The proposal indicates bipartisan interest in incorporating digital assets into financial policies. Legislators view Bitcoin as a hedge against inflation and economic uncertainty.
Growing Interest in Bitcoin Reserves
Several states have introduced Bitcoin-related legislation, but many proposals have stalled. Kentucky recently proposed allocating 10% of state reserves to Bitcoin and other digital assets. Florida’s Senate introduced SB 550, which would allow state officials to invest public funds in Bitcoin. North Carolina’s bill is seen as a serious step due to House Speaker Hall’s involvement.
The North Carolina Blockchain Initiative recently completed its six-year role as a government task force. Stakeholders continue advocating for digital asset policies at both state and federal levels. The bill will then move through legislative review. Lawmakers will debate its potential impact before making a final decision. North Carolina would be among the first states to allocate public funds to Bitcoin investments if passed.
