TL;DR
- North Carolina’s House of Representatives approved in committee Bill HB 92, which allows up to 10% of public funds to be invested in Bitcoin.
- The measure applies to state funds such as the teachers’ and public employees’ retirement system, and investments would be made through spot ETFs.
- If passed, North Carolina would become the first U.S. state with direct Bitcoin exposure via public funds, boosting institutional crypto adoption.
North Carolina has taken a firm step toward crypto adoption. On April 16, the State House’s Pensions and Retirement Committee approved House Bill 92, also known as the “North Carolina Digital Assets Investment Act.” This legislation would authorize the State Treasurer to invest up to 10% of public funds into digital assets with a market capitalization exceeding $750 billion, a threshold currently met only by Bitcoin. The move reflects growing interest among policymakers in exploring digital alternatives to traditional financial vehicles amid global economic uncertainty.
Visionary Proposal with Solid Economic Grounds
The bill, supported by Representatives Destin Hall, Mark Brody, Mike Schietzelt, and Stephen Ross, represents a strategic move to diversify public investments. This is not a reckless gamble but an attempt to modernize the management of funds such as the Teachers’ and State Employees’ Retirement System, the General Fund, and other institutional funds. The investment would be made through spot Bitcoin ETFs, recently approved by the SEC, ensuring transparency, regulated custody, and lower operational risk.
Contrary to what many critics might think, this is not an isolated idea. Firms like BlackRock, Fidelity, and ARK Invest already offer similar products that attract billions in institutional capital. North Carolina’s initiative may pave the way for other states to follow suit, especially if the financial outcomes prove favorable. This approach could also influence how digital assets are perceived, helping position them as a legitimate component of traditional finance and accelerating their integration into broader governmental frameworks. If executed with discipline, this strategy may open the door to broader economic resilience and digital leadership.
Boosting Adoption and Financial Sovereignty
Proponents argue that Bitcoin can act as a hedge against inflation and offer attractive long-term returns. In a context of growing national debt and weakening purchasing power of the dollar, Bitcoin is seen as a decentralized, finite asset free from government intervention, a potentially strategic reserve for the state’s financial future.
If the bill passes the remaining three committees, it could be put to a floor vote and take effect immediately. If enacted, it would set a historic precedent in integrating public finance with the digital economy.
