North Carolina Introduces a New Bitcoin Reserve Bill

A new proposal was put forth in the North Carolina House of Representatives on Monday, suggesting that the state treasurer should be permitted to invest in qualified digital assets in order to create a reserve fund.

While it doesn’t specifically mention Bitcoin, this cryptocurrency is the only one that would meet the requirements outlined in the proposal.

North Carolina House Speaker Destin Hall introduced the bill, titled the NC Digital Assets Investments Act, which has the support of Bitcoin advocates Mark Brody and Steve Ross, both Republicans.

Industry expert Dan Spuller, who serves as the head of industrial affairs for the Blockchain Association and co-chair of the North Carolina Blockchain Initiative, praised the bill, stating that Hall is a strong leader in the state and that North Carolina is taking steps to align with President Trump’s vision for a national Bitcoin stockpile.

If passed, the bill would allow for the purchase of exchange-traded products (ETPs) of digital assets with a minimum market capitalization of $750 billion using state funds, up to a maximum of 10% of the state’s overall funds.