North Carolina Introduces Bill to Allow State Treasurer to Invest in Bitcoin

North Carolina Considers Bitcoin Investment Bill

North Carolina's Speaker of the House, Destin Hall, has introduced a bill that could pave the way for the State Treasurer to invest in digital assets, including Bitcoin. The legislation, known as HB92, aims to diversify the state's investment portfolio by incorporating cryptocurrencies, specifically those with significant market presence.

Key Criteria for Digital Asset Investments

The bill establishes strict criteria for digital assets eligible for investment. To qualify, assets must have maintained a minimum average market capitalization of $750 billion over the previous 12 months. Currently, only Bitcoin meets this threshold. Additionally, the bill limits such investments to no more than 10% of the state's fund balance.

Potential Benefits and Alignment with National Trends

Speaker Hall highlighted the potential benefits of this initiative, including positive returns for the state's investment fund and positioning North Carolina as a leader in technological innovation. The move aligns with President Donald Trump's vision for a national Bitcoin stockpile, signaling the state's proactive approach to digital asset adoption.

Growing Interest Among U.S. States

North Carolina is not alone in exploring digital asset investments. Over a dozen other states, including Texas, Pennsylvania, Ohio, and Oklahoma, have introduced similar legislation. This reflects a broader trend among state lawmakers to consider Bitcoin reserves as part of their investment strategies.

Bitcoin's Recent Performance

At the time of reporting, Bitcoin is trading at $98,351, showing a 1.1% increase in the last 24 hours. This upward trend underscores the cryptocurrency's growing appeal as a viable investment option, particularly among U.S. state legislators.

The bill represents a significant step forward in integrating digital assets into mainstream financial strategies, with North Carolina aiming to lead the way at the state level.