North Carolina Proposes Bill To Allow State Treasurer To Invest In Digital Assets

North Carolina is moving toward embracing digital assets as part of its investment strategy with a new legislative proposal. The NC Digital Assets Investments Act (HB 92) aims to permit the state treasurer to allocate public funds to “qualified” digital assets.

Under the bill, introduced by House Speaker Destin Hall on 10 February 2025, digital assets eligible for investment must be exchange-traded products with an average market capitalization of at least $750 billion over the past 12 months.

Currently, this requirement limits investments solely to Bitcoin exchange-traded products (ETPs). Additionally, the bill caps digital asset investments at 10% of any state fund’s balance at the time of investment.

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Hall Sees Bitcoin as Key to Boosting North Carolina’s Leadership

Hall emphasized that including Bitcoin in the state’s portfolio could enhance financial returns while positioning North Carolina as a leader in technological innovation.

“Investing in digital assets like Bitcoin not only has the potential to generate positive yields for our state investment fund but also positions North Carolina as a leader in technological adoption and innovation,” he stated.

Hall also linked the initiative to former President Donald Trump’s call for a national Bitcoin stockpile, suggesting that North Carolina should take the lead at the state level.

JUST IN: 🇺🇸 North Carolina House Speaker Destin Hall introduces legislation to create a Strategic Bitcoin Reserve. pic.twitter.com/VMczodJ7zk

— Bitcoin Magazine (@BitcoinMagazine) February 10, 2025

Bill co-sponsor Mike Schietzelt echoed the sentiment, highlighting the impact of blockchain technology, decentralized finance (DeFi), and crypto innovations. He suggested that North Carolina should capitalize on these emerging trends to safeguard public funds from inflation and economic instability.

The move comes amid a surge in crypto investment proposals across the US. Currently, 19 states have introduced similar bills. Arizona and Utah advancing legislation beyond the House committee stage, while North Dakota recently rejected a crypto investment proposal.

Meanwhile, Montana lawmakers have introduced HB 429. It seeks to establish a state fund for digital assets and precious metals.

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University of Austin To Launch $5M Bitcoin Fund

The University of Austin is launching a $5 million Bitcoin fund as part of its $200 million endowment. 

Notably, the precedent is set by Emory University. In a regulatory filing last October, it was disclosed that over $15 million in Bitcoin was invested through Grayscale’s spot Bitcoin exchange-traded fund (ETF).

Beyond university endowments, cryptocurrency is gaining traction in the retirement sector as well. A recent Bitget Research report revealed that up to 20% of Generation Z and Generation Alpha are open to receiving pensions in cryptocurrency.

Additionally, 78% of surveyed respondents expressed greater trust in alternative retirement savings options over traditional pension funds. 

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