North Carolina proposes 10% public funds allocation to Bitcoin

North Carolina has introduced Senate Bill 327, the Bitcoin Reserve and Investment Act, proposing that up to 10% of public funds be allocated to Bitcoin (CRYPTO:BTC).

The bill, sponsored by Senators Todd Johnson, Brad Overcash, and Timothy Moffitt, aims to establish a strategic Bitcoin reserve and position North Carolina as a leader in state-level cryptocurrency adoption.

If enacted, the state treasurer would be authorised to invest up to 10% of public funds into Bitcoin, with assets stored in multi-signature cold wallets for security.

Monthly audits would ensure transparency, and any sale of Bitcoin would require approval from two-thirds of the General Assembly, limited to severe financial crises.

The bill also includes Bitcoin-backed investment strategies, such as staking and lending, to generate yield, and proposes forming a Bitcoin Economic Advisory Board to oversee the reserve and explore Bitcoin mining operations.

This move aligns with broader trends, as President Donald Trump has proposed a national Strategic Bitcoin Reserve, and states like Arizona, Texas, and Utah are considering similar measures.

North Carolina’s initiative could set a precedent for other states incorporating digital assets into their financial strategies, balancing cryptocurrency adoption with security and risk management.

As the bill progresses, its impact on state finances and the broader cryptocurrency market will be closely watched, with potential implications for digital asset regulation in the U.S.

At the time of reporting, the Bitcoin (BTC) price was $84,407.31.