North Carolina has joined other U.S. states in exploring the possibility of investing public funds in cryptocurrencies, including Bitcoin.
Legislative Initiative of North Carolina
North Carolina has become the 20th U.S. state to present a bill allowing public fund investments in Bitcoin. House Bill 92 (HB 92) permits the state treasurer to allocate up to 10% of public funds to digital assets, with a focus on cryptocurrencies with a market cap exceeding $750 billion.
Utilizing Exchange-Traded Products
HB 92 authorizes the state treasurer to invest in Bitcoin through exchange-traded funds (ETFs). These investments can be sourced from the General Fund, Highway Fund, and 24 other special funds managed by the state. The bill, sponsored by House Speaker Rep. Destin Hall and Representatives Mark Brody and Steve Ross, aims to establish digital assets as part of the state’s financial reserves.
Federal and State-Level Bitcoin Reserve Initiatives
At the federal level, U.S. President Donald Trump issued an executive order supporting Bitcoin reserves, while states like Utah, Montana, and Florida are pushing similar initiatives. Utah's House has passed a bill allowing up to 5% of state reserves for Bitcoin. Other states such as Kentucky, Maryland, and Iowa have also introduced Bitcoin reserve bills.
Interest in cryptocurrency investments continues to grow at both federal and state levels in the United States. State initiatives, like those from North Carolina, highlight the recognized role of digital assets in economic strategy.
