North Dakota Considers Crypto Reserve as State Bitcoin Treasuries Gain Momentum

If passed, the North Dakota Legislative Assembly would direct the State Treasurer and Investment Board to allocate portions of key state funds to invest in digital assets. Notably, however, while encouraging digital asset investments, the resolution did not name Bitcoin specifically. Also Friday, legislation for a state Bitcoin reserve was introduced in New Hampshire, and while that proposed bill also didn’t mention Bitcoin by name, Bitcoin would be the only coin eligible for the New Hampshire reserve based on market cap stipulations.

The North Dakota resolution doesn’t have the same criteria, however. “The resolution is simply encouraging the State Treasurer and the State Investment Board to look at investing in different types of assets rather than what they currently do,” North Dakota Legislative Council Director John Bjornson told Decrypt. “It doesn’t hold the force of law, so it doesn’t include definitions about what those may include that would be something that would be more appropriate for a bill.”

Resolution 3001 is expected to be voted on Tuesday, but until then, the move is mostly symbolic. Other states considering strategic Bitcoin reserves include Florida, Texas, Pennsylvania, Ohio, and New Hampshire. In September, Louisiana began accepting payments for services with Bitcoin and the USDC stablecoin. “The state that is last to build Bitcoin reserves will lose,” New Hampshire Rep. Keith Ammon told Decrypt earlier Friday. “It’s urgent that states act sooner than later, and that takes some education on the part of state officials.”