North Carolina Introduces Bill to Allocate Public Funds to Bitcoin Reserves

• North Carolina lawmakers introduced a bill permitting up to 10% of public funds to be invested in Bitcoin.
•  U.S. President Donald Trump supports Bitcoin reserves, while states like Utah, Montana, and Florida push similar initiatives.
• Kentucky, Maryland, and Iowa are also advancing Bitcoin reserve legislation.

North Carolina has become the 20th U.S. state to present lawmaking allowing public fund investments in Bitcoin. Lawmakers presented House Bill 92 (HB 92), permitting the state treasurer to assign up to 10% of public funds to BTC and other digital assets. The legislation specifies that only cryptocurrencies with a market cap exceeding $750 billion qualify for investment.

State Treasury to Utilize Exchange-Traded Products

HB 92 authorizes the state treasurer to invest in BTC through ETFs. These investments can come from the General Fund, Highway Fund, and 24 other special funds managed by the state. The bill, sponsored by House Speaker Rep. Destin Hall and Representatives Mark Brody and Steve Ross, seeks to establish digital assets as part of the state’s financial reserves.

Dan Spuller, Head of Industry Affairs at the Blockchain Association, stated that North Carolina’s initiative is being taken seriously. He noted that similar bills in other states have faced delays or stagnation.

Federal and State-Level Developments in Bitcoin Reserve

At the federal level, U.S. President Donald Trump issued an executive order supporting Bitcoin reserves. The order encourages exploring crypto asset stockpiling as part of national financial strategies. Meanwhile, Utah’s House of Representatives passed a bill allowing up to 5% of state reserves to be allocated to Bitcoin.

Several other states have submitted similar legislative efforts. Montana’s House Bill 429 offers to invest up to $50 million in digital assets, stablecoins, and precious metals through a custodian or exchange-traded fund (ETF). Florida has raised a bill permitting up to 10% of public funds to be allocated to BTC.
Kentucky, Maryland, and Iowa have also introduced Bitcoin reserve legislation. Kentucky’s proposal allows 10% of excess state funds to be invested in Bitcoin while prohibiting investments in central bank digital currencies (CBDCs). Maryland’s bill seeks to fund a Bitcoin Reserve Fund using penalties from gambling violations. Iowa’s proposed legislation includes Bitcoin, stablecoins, and precious metals, with a 5% cap on public fund allocations.