February 12, 2025 — North Carolina has joined a growing list of U.S. states considering crypto investments with the introduction of the NC Digital Assets Investments Act (HB 92). Filed by House Speaker Destin Hall on Feb. 10, the bill would permit the state treasurer to allocate public funds to Bitcoin exchange-traded products (ETPs), potentially diversifying state investments.
The proposed legislation restricts investments to Bitcoin ETPs only, requiring a minimum market capitalization of $750 billion over the previous year. This effectively limits eligible digital assets to Bitcoin (BTC), which is currently trading at $98,193. Additionally, the bill caps digital asset investments at 10% of any state fund’s balance at the time of investment.
Hall emphasized that the bill aligns with President Trump’s vision for a national Bitcoin stockpile and positions North Carolina as a leader in digital asset adoption. “Investing in Bitcoin not only offers potential yields but also ensures our state stays at the forefront of technological innovation,”Hall stated.
State funds targeted by the bill include pensions for teachers and state employees, insurance funds, and veterans’ funds. Co-sponsor Mike Schietzelt highlighted the role of blockchain and decentralized finance in shaping future financial systems, asserting that North Carolina is poised to capitalize on these emerging opportunities.
North Carolina’s move comes amid a broader trend of U.S. states embracing crypto-related legislation. Montana recently proposed a similar bill, while Arizona and Utah have advanced legislation beyond the House committee level. Conversely, North Dakota has rejected crypto investment proposals.
If passed, the bill could position North Carolina as a trailblazer in digital asset investment at the state level, reflecting the growing acceptance of cryptocurrencies within traditional finance.
Source: Cointelegraph
