U.S. Regulation

North Carolina Passes Bill to Create Bitcoin Reserve Fund

The North Carolina House of Representatives has passed House Bill 92, also known as the Strategic Bitcoin Reserve Bill, signaling a bold step toward crypto adoption. Approved on April 30, the bill allows the state to create a digital asset reserve focused mainly on Bitcoin and similar tokens. As introduced by House Speaker Destin Hall, the bill aims at establishing a digital asset reserve to be invested in the state’s portfolio.

It does not directly allow the purchase of cryptocurrencies, but it allows investment in funds associated with cryptocurrencies such as Bitcoin mutual funds. One of the main backers, Keith Kidwell, stated that it is necessary to invest wisely—just like any financial consultant would do. The passed bill also permits state employees to invest a portion of their pension funds in cryptocurrencies.

Some of the supporters of the decision say that it would assist in curbing inflation and increase long-term returns. This proposal comes at a time when the state’s pension system is $16 billion in the red, so this bill is one to keep an eye on. Nevertheless, before it becomes law, the bill is still up for consideration by the North Carolina Senate. If implemented, it can be a major step for other states that consider Bitcoin as an option for investment. This move by North Carolina could be the beginning of a new era in which governments accept Bitcoins as they are now doing with other forms of cash.

Terron Gold

Recent Posts

CME Goes 24/7 and Bitcoin’s Famous “CME Gap” Trade Is About to Disappear

The crypto market is entering the end of an era as CME Group officially launches 24/7 Bitcoin and…

6 days ago

VanEck Launches First U.S. Spot BNB ETF as Altcoin ETF Race Accelerates

Asset management giant VanEck has officially launched the first-ever U.S. spot ETF tied directly to BNB, the native…

6 days ago

Sui Suffers Another Major Network Outage as Transactions Grind to a Halt

Layer-1 blockchain Sui experienced another major network outage on May 28 after block production and transaction processing…

6 days ago

DTCC Expands Tokenization Push to Stellar as Wall Street Accelerates Multi-Chain Strategy

The Depository Trust & Clearing Corporation (DTCC) has announced plans to connect its tokenization infrastructure to the Stellar blockchain,…

6 days ago

Robinhood Launches AI Trading Agents That Can Trade Stocks for You

Robinhood is officially entering the “agentic AI” era after unveiling a new beta feature that…

1 week ago

Fold Launches Bitcoin Rewards Credit Card With Up to 4% BTC Back

Bitcoin financial services company Fold has officially begun rolling out its long-awaited Bitcoin rewards credit card, allowing…

1 week ago