North Dakota Pushes for Crypto in State Investments with Resolution 3001

• North Dakota’s Resolution 3001 explores digital assets and metals, aiming to combat inflation and modernize state investments.
• U.S. states like New Hampshire and Texas push Bitcoin reserves, reflecting a growing trend in crypto adoption for economic resilience.
• North Dakota joins a nationwide crypto movement, signaling a shift toward digital assets as states seek to hedge against inflation.

On Friday, the North Dakota State Legislature introduced Resolution 3001, which proposes diversifying state investments into digital assets and precious metals. This initiative aims to mitigate inflation’s impact by exploring alternative financial instruments.

Introduced by a bipartisan group of lawmakers, the resolution emphasizes the need for prudent investment given changing economic conditions. However, it refrains from specifically naming Bitcoin, opting for a broader approach to digital asset investments. The proposal directs the State Treasurer and Investment Board to evaluate and allocate select state funds into emerging asset classes, potentially paving the way for policy shifts.

A Broader Trend Across States

Besides North Dakota, other states are actively exploring Bitcoin reserves or crypto investments. New Hampshire recently introduced a bill enabling up to $360 million in crypto allocations. Unlike North Dakota’s proposal, New Hampshire’s legislation specifies strict market cap requirements, effectively limiting investments to Bitcoin and select stablecoins.

Pennsylvania, Texas, Florida, and Ohio have also expressed interest in Bitcoin reserves, with legislative proposals surfacing in recent months. Advocates argue that states acting early on crypto adoption stand to gain a financial edge. Legislators in these states highlight Bitcoin’s resilience and growing global acceptance as factors driving their interest.

Strategic Implications for State Economies

Lawmakers view crypto investments as a hedge against economic uncertainty and inflation. Additionally, proponents believe embracing Bitcoin aligns with technological innovation and global financial trends.

However, the North Dakota resolution is currently symbolic, lacking the force of law. Its focus remains on encouraging exploration rather than mandating investments. John Bjornson, North Dakota Legislative Council Director, clarified that the proposal merely recommends diversification without enforcing asset definitions.

Consequently, states like Louisiana are leading with practical adoption, already accepting Bitcoin and USDC payments for services. Meanwhile, advocates like New Hampshire Representative Keith Ammon stress the urgency of adopting Bitcoin reserves, citing competitive advantages for early movers.