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North Carolina bill proposes investment in Bitcoin reserve fund with potential for 40,000 BTC
North Carolina has introduced a bill that would allow the state treasurer to invest in digital assets, potentially positioning the state as a leader in Bitcoin adoption at the government level.
Key Takeaways
- North Carolina introduced a bill to allow investment of up to 10% of state funds in digital assets.
- The state could acquire up to 41,040 BTC based on current Bitcoin prices.
- 19 other states are considering similar digital asset reserve legislation.
- The move aligns with federal efforts to establish a national Bitcoin reserve.
The NC Digital Assets Investments Act, introduced by House Speaker Destin Hall and backed by Republican lawmakers Mark Brody and Steve Ross, proposes using up to 10% of certain state funds to purchase exchange-traded products (ETPs) tied to digital assets. While the bill does not explicitly mention Bitcoin, it is the only cryptocurrency that qualifies under its criteria.
If passed, the legislation could allow North Carolina to acquire up to 41,040 BTC, based on a Bitcoin price of $97,417. The potential investments would be sourced from the state’s "rainy day" funds, which support various programs, including teacher pensions and environmental restoration. Any interest or income generated from the investments would be funneled into the state’s General Fund, except for highway-related funds, which would remain allocated to their original accounts.
States that announced a Bitcoin reserve. Source: Bitcoin Laws
Growing state and federal interest in Bitcoin reserves
North Carolina is not alone in considering digital asset reserves. Utah, Arizona, and 19 other states have proposed similar legislation, with seven explicitly targeting Bitcoin. At the federal level, Senator Cynthia Lummis introduced the BITCOIN Act last year to establish a national digital asset reserve. The movement gained momentum following President Donald Trump’s executive order on January 23, directing the creation of a framework for a national Bitcoin stockpile. With regulatory support shifting, North Carolina’s bill could be a key step in broader government adoption of Bitcoin as a strategic asset.
Read also: University of Austin launches $5m bitcoin fund in institutional adoption trend
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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