North Carolina introduces a bill to invest public funds in Bitcoin. By doing so it has officially joined in with 19 other states pushing for crypto adoption.
North Carolina is stepping up its crypto game! On February 10, Speaker Destin Hall introduced the NC Digital Assets Investments Act (HB 92), which could make the state one of the biggest players in Bitcoin investment. The bill suggests the state treasurer invest public funds in “qualified” digital assets like Bitcoin.
Under the proposed law, North Carolina could start putting money into Bitcoin exchange-traded products (ETPs) that meet specific conditions, such as maintaining a $750 billion market cap in the last year. However, there’s a catch: the bill ensures that no more than 10% of the state’s public funds can be invested in these digital assets.
Speaker Hall says this move will surely put North Carolina at the forefront of technological advancements and align with former President Trump’s vision of a national Bitcoin stockpile. This makes North Carolina the 20th state to propose such crypto legislation. Its basically following in the footsteps of Arizona and Utah. While states like North Dakota are holding back, the trend is clear—crypto investments are gaining traction as a way to strengthen state budgets and tap into the power of blockchain and decentralized finance.
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