North Carolina's Bill: Investing in Bitcoin ETPs and Digital Assets

user avatar

by Giorgi Kostiuk

2 years ago

On February 10, a new bill was introduced in North Carolina aimed at allowing state funds to invest in certain qualified digital assets. This is a step towards integrating digital currencies into the state's investment strategies.

Digital Assets in North Carolina

North Carolina is making significant strides towards investments in digital assets. Speaker of the House Destin Hall introduced the 'NC Digital Assets Investments Act' (HB 92), aimed at allowing the state treasurer to diversify public funds.

Investment Conditions in Bitcoin ETPs

The bill stipulates that investments must be limited to Bitcoin exchange-traded products (ETPs). These digital assets must maintain an average market capitalization of at least $750 billion over the past 12 months. Additionally, the bill places a cap on investments, limiting them to a maximum of 10% of any state fund’s balance at the time of investment.

Legislative Initiatives and Prospects

If the bill passes, many state funds, including insurance, pensions, and veterans' funds, will be able to invest in Bitcoin ETPs. Such a measure could serve as a hedge against the devaluation and inflation of the US dollar while providing potential returns. The proposal also highlights North Carolina's ambition to be a leader in innovation and technological adoption. Increasing national interest in similar initiatives is noted, as numerous states are considering comparable legislative measures.

North Carolina's initiative to file the 'NC Digital Assets Investments Act' marks a significant step towards integrating Bitcoin into state investment strategies. This underscores the rising recognition of cryptocurrency's role in modern financial systems. If the bill passes, it could serve as an example for other states looking to diversify their investment portfolios with digital assets.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

NEAR Protocol Achieves 50 Million Operations Milestone

chest

NEAR Protocol's chain abstraction infrastructure has surpassed 50 million lifetime operations, marking a significant achievement in simplifying multichain crypto interactions.

user avatarArif Mukhtar

Solana Sees Significant RWA Inflows

chest

Solana has recorded $348 million in net inflows of real-world assets over the past 30 days, increasing its tokenized RWA value to $720 million.

user avatarMaria Gutierrez

Aave Governance Considers Emergency Powers to Protect Users

chest

Aave governance is considering a proposal to grant emergency powers to guardians to freeze vulnerable lending pools during security threats.

user avatarDavid Robinson

Router Protocol Users Must Move Assets During Grace Period

chest

Router Protocol users must take action during the grace period to bridge assets back to origin chains before relayer nodes are disconnected.

user avatarJacob Williams

Arbitrum Proposes Disqualification of Three DeFi Protocols from Future Grants

chest

A new governance proposal by Arbitrum aims to disqualify three DeFi protocols from future DAO grant allocations due to alleged reporting failures and misuse of prior incentives.

user avatarAndrew Smith

Router Protocol to Shut Down Crosschain Network and Burn 303 Million Tokens

chest

Router Protocol has announced a deprecation plan to shut down its crosschain messaging network and burn 303 million ROUTE tokens due to unsustainable maintenance costs.

user avatarZainab Kamara

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.