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North Carolina lawmakers have made a bold move by introducing House Bill 92 which allows the state treasurer to invest up to 10% of certain state funds in Bitcoin and other qualifying digital assets. This initiative positions North Carolina as the 20th US state to embrace Bitcoin reserve legislation showcasing a growing trend among states to integrate digital assets into their financial strategies. The bill sponsored by Representative Destin Hall and others specifies that only cryptocurrencies with a market cap exceeding $750 billion for the past year qualify notably making Bitcoin the primary candidate.
The bill stipulates investments be made through regulated exchange-traded products to ensure security and compliance. Under the proposed legislation North Carolina’s State Treasurer would have the authority to diversify investments across the General Fund Highway Fund and 24 special funds. Oversight will be provided by the Governor and Council of State while third-party managers handling these assets are required to manage at least $100 million.
With states like Montana and Florida also advancing similar proposals the momentum for incorporating Bitcoin into state financial portfolios continues to build. These measures not only reflect growing confidence in digital assets but also position them as viable tools for economic strategy and inflation hedging.
