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North Carolina’s Speaker of the House Destin Hall introduced a bill that could allow the State Treasurer to invest in digital assets like bitcoin. The bill, HB92, is aimed at diversifying the state’s investment portfolio by including cryptocurrencies, specifically those that are exchange-traded products with a significant market presence.
The legislation, which is also backed by Representatives Stephen Ross, Mark Brody, and Mike Schietzelt, sets a strict criterion for the digital assets in which the state can invest. To qualify, these assets must have had a minimum average market capitalization of $750 billion over the previous 12 months, a threshold currently only met by bitcoin.
Furthermore, the bill limits the investment in such digital assets to no more than 10% of the total balance of the state’s fund. Speaker Hall emphasized the potential benefits of this move, stating that it could yield positive returns for North Carolina’s investment fund and establish the state as a frontrunner in technological adoption and innovation.
The initiative aligns with what Hall refers to as U.S. President Donald Trump’s vision for a national bitcoin stockpile, aiming to place North Carolina at the forefront of state-level leadership in this area.
North Carolina is not alone in its interest in digital asset investments. Over a dozen other U.S. states, including Texas, Pennsylvania, Ohio, and Oklahoma, have introduced similar legislation, signaling a growing trend among state lawmakers to consider bitcoin reserves.
At the time of reporting, bitcoin has seen a recent uptick, trading at $98,351, marking a 1.1% increase in the last 24 hours. This reflects the cryptocurrency’s status as a notable investment option among U.S. state legislators, particularly following the pro-crypto stance of the Trump administration since January.
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