North Carolina Proposes Bill to Invest Public Funds in Bitcoin Products

North Carolina has joined a growing list of U.S. states pushing for cryptocurrency investment legislation. On February 10, House Speaker Destin Hall introduced the “NC Digital Assets Investments Act” (HB 92), which seeks to diversify state investments by allowing the treasurer to allocate public funds to digital assets.

Focus on Bitcoin ETPs

The proposed legislation requires that eligible digital assets must be exchange-traded products with an average market capitalization of at least $750 billion over the past 12 months. As it stands, only Bitcoin exchange-traded products (ETPs) meet the criteria.

The bill also places a 10% cap on digital asset investments relative to any state fund’s balance at the time of purchase. Hall highlighted the potential benefits of such investments, stating that they could generate positive returns for public funds, including pensions and veterans’ funds, while positioning North Carolina as a leader in blockchain adoption.

In a social media post, Hall aligned the bill with President Donald Trump’s vision of building a “national Bitcoin stockpile,” asserting that North Carolina aims to lead this initiative at the state level.

Rising Trend of Crypto Legislation Across U.S. States

Bill co-sponsor Mike Schietzelt emphasized the transformative impact of blockchain and decentralized finance. “North Carolina is poised to capitalize on these emerging opportunities,” he said, referring to innovations in the digital asset space.

The Tar Heel State’s move is part of a broader trend. Nineteen states have proposed similar crypto investment bills, with Arizona and Utah advancing their legislation past House committees .

On February 7, Montana introduced HB 429, which proposes creating a “state special revenue account” for investments in both digital assets and precious metals. However, several states are not on board. North Dakota also recently rejected a proposal to invest in crypto assets.