North Carolina lawmakers have introduced a new bill intended to allow the State Treasurer to invest in what are termed “qualifying digital assets.”
North Carolina lawmakers have introduced a new bill intended to allow the State Treasurer to invest in what are termed “qualifying digital assets.” The proposed legislation, known as the "Digital Assets Investments Act," seeks to diversify the state's investment portfolio by including Bitcoin exchange-traded products (ETPs).
Filed as HB92 by North Carolina Speaker of the House Destin Hall, the bill outlines criteria for the digital assets eligible for investment, specifying that they must have a minimum average market capitalization of $750 billion over the past year. Currently, only Bitcoin meets this threshold.
Co-sponsored by Representatives Stephen Ross, Mark Brody, and Mike Schietzelt, the bill also limits investments, stipulating that no more than 10% of the fund's balance can be allocated to these crypto assets.
In a statement, Hall emphasized the potential for digital asset investments to yield positive returns for the state, positioning North Carolina as a forward-thinking entity in technological innovation.
The introduction of this bill aligns with a growing trend among U.S. states, as over a dozen others, including Texas, Pennsylvania, Ohio, and Oklahoma, have also proposed similar legislation exploring the establishment of Bitcoin reserves.
This movement has gained momentum thanks to the pro-crypto sentiment expressed by President Donald Trump, who advocated for a national Bitcoin stockpile.
As of the latest reports, Bitcoin has seen a 1.1% increase in value within the past 24 hours, trading at approximately $98,351. The developments in North Carolina reflect a broader interest in crypto as a viable investment option at the state level.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
