La Derecha Diario North Carolina approved a law to create a strategic reserve in Bitcoin.
The congress of the American state approved a bill in the last few hours to create a reserve of up to 5% of public funds in digital assets
The North Carolina HB 92 Bill, known as the North Carolina Digital Asset Investment Act, has advanced significantly in the legislative process.
This bill authorizes the State Treasurer to invest up to 5% of public funds in digital assets like Bitcoin, with the aim of diversifying and potentially increasing the returns of state funds such as pensions, education, and transportation.
The bill was approved by the House Commerce and Economic Development Committee on March 5, 2025, after overcoming a brief delay and bipartisan skepticism.
The House Speaker, Destin Hall (Republican-Caldwell), defended the initiative, highlighting that, although it is novel for North Carolina, it is not globally.
The State Treasurer, Brad Briner, also expressed his support in writing, arguing that investment in cryptocurrencies could improve the returns of the state pension fund.
The bill establishes that investments must be made through exchange-traded products (ETFs) of digital assets with a minimum market capitalization of USD 750 billion, effectively limiting investments to Bitcoin.
Additionally, investments are required to be evaluated by an external advisor and assets must be held on secure custody platforms.
Although the project has advanced, it has faced criticism. Representative Bryan Cohn (Democrat-Granville) expressed concerns about the volatility of cryptocurrencies, comparing them to assets that contributed to the 2007-2009 financial crisis.
The State Employees Association of North Carolina (SEANC) also opposed, arguing that pension funds should not be exposed to such unstable assets.
Meanwhile, the HB 506 Bill is being considered, which proposes the creation of the North Carolina Investment Authority. This entity would oversee state investments, including a maximum of 5% in digital assets.
Additionally, the SB 327 Bill is being evaluated, which would allow the creation of a strategic Bitcoin reserve, allowing up to 10% of public funds to be invested exclusively in this cryptocurrency.
If the HB 92 Bill is approved by the House and Senate, and subsequently signed by the governor, North Carolina would become one of the first states to allow public investments in cryptocurrencies.
This move reflects a growing trend in several states in the United States seeking to integrate digital assets into their public investment strategies.
The implementation of these policies could position North Carolina as a leader in financial innovation, although it will depend on the evolution of the cryptocurrency market and the prudent management of these assets to ensure the security and stability of public funds.
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