Under the bill, the state treasurer will be allowed to invest in cryptocurrencies that have a market cap higher than $750 billion.<\/p>\n 2 min read<\/span><\/p>\n Updated:<\/span> Feb. 10, 2025 at 10:12 pm UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n North Carolina lawmakers have introduced a bill allowing the state treasurer to invest up to 10% in Bitcoin (BTC<\/a>) and other qualifying digital assets.<\/span><\/p>\n House Bill 92, sponsored by Representative Destin Hall and Representatives Mark Brody and Steve Ross, qualifies any crypto with a market cap of over $750 billion during the 12 months preceding the potential investment as a qualifying digital asset.<\/span><\/p>\n Notably, only Bitcoin fits comfortably this requirement, as the threshold is over 2x higher than Ethereum\u2019s (ETH) current $323 million market cap.<\/span><\/p>\n Additionally, the investment must happen through a regulated exchange-traded product (ETP).<\/span><\/p>\n Under the bill, North Carolina\u2019s State Treasurer can invest in crypto through the General Fund, Highway Fund, and the 24 special funds under its supervision.<\/span><\/p>\n The Governor and Council of State will oversee the implementation of digital asset investments, and third-party investment managers handling digital assets must have at least $100 million in assets under management.<\/span><\/p>\n North Carolina is the 20th US state to introduce Bitcoin reserve legislation.\u00a0<\/span>Last week, lawmakers in Montana and Florida introduced bills to establish Bitcoin reserves, adding to the growing number of US states integrating digital assets into their financial strategies.\u00a0<\/span><\/p>\n Montana\u2019s House Bill 429 proposes a special revenue account for investments in precious metals, stablecoins, and digital assets, requiring a minimum market capitalization of $750 billion.\u00a0<\/span><\/p>\n The bill also mandates that these assets be held by a qualified custodian or via an exchange-traded fund (ETF). Up to $50 million from the state\u2019s general fund can be allocated to this investment.<\/span><\/p>\n In Florida, a similar bill seeks to authorize the state\u2019s Chief Financial Officer (CFO) to invest in Bitcoin, allocating up to 10% of public funds to the asset. The legislation positions Bitcoin as a hedge against inflation, citing its historical appreciation and increasing acceptance among sovereign nations and investment firms.\u00a0<\/span><\/p>\n It also includes provisions for state agencies to accept Bitcoin payments while requiring conversion into US dollars for general revenue fund contributions.<\/span><\/p>\n![\"bitcoins](\"https:\/\/cryptoslate.com\/wp-content\/themes\/cryptoslate-2020\/imgresize\/timthumb.php?src=https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/01\/us-bitcoin-reserve.jpg&w=70&h=37&q=75\")
North Carolina becomes 20th US state to introduce legislation for a Bitcoin reserve<\/span> Gino Matos \u00b7<\/span> 2 weeks ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n![](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2024\/08\/cs-gino-150x150.jpg\")
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<\/p>\nBitcoins 20 US states<\/strong><\/h2>\n
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