North Carolina House Speaker Destin Hall has introduced the North Carolina Digital Assets Investments Act, a bill that would allow the state treasury to invest in cryptocurrencies. This initiative aims to diversify the state’s investment portfolio and position North Carolina as a leader in digital transformation. The proposed legislation permits investments in major cryptocurrencies like Bitcoin (BTC) but imposes a limit of 10% of the fund’s total balance.
Investment Criteria and Limitations
The bill specifies that the State Treasurer can only invest in digital assets that meet strict criteria. These cryptocurrencies must qualify as an exchange-traded product and maintain an average market cap of at least $750 billion over the past 12 months. Currently, only Bitcoin meets this requirement.
Additionally, crypto investments cannot exceed 10% of the state’s total fund balance, a measure designed to reduce risk and ensure financial stability. Hall emphasized that this initiative would not only enhance the state’s investment returns but also reinforce North Carolina’s role in technological innovation.
Aligning with the National Bitcoin Reserve Vision
In a social media post, Hall linked the proposal to former U.S. President Donald Trump’s vision of establishing a national Bitcoin reserve. He stated that this bill represents an opportunity for the state to strengthen its financial future and become a pioneer in Bitcoin investments.
The Growing Trend of Bitcoin Reserves in the U.S.
North Carolina’s move follows a growing national trend. Several states, including Texas, Pennsylvania, Ohio, and Oklahoma, have introduced similar legislation to establish Bitcoin reserves.
The pro-crypto stance of the Trump administration has encouraged states to view Bitcoin as a strategic investment asset. As Bitcoin’s market dominance and global significance grow, states are re-evaluating their investment strategies, fueling competition to lead in the crypto space.
Stay tuned to Dey There for more updates on crypto legislation trends and investment strategies.
