Bitcoin Investment Bill in North Carolina

North Carolina Considers Investing Public Funds in Bitcoin ETFs

• Rep. Deborah Ross (D-NC) filed a bill proposing up to 10% of state funds be invested in Bitcoin ETFs.
• The potential investment could exceed $10 billion, focusing on digital assets with a market cap over $750 billion.
• North Carolina previously passed legislation against central bank digital currencies (CBDCs).
• Some North Carolina lawmakers have proposed stricter regulations on crypto mining in specific counties.
• The State Treasurer can invest directly or through third-party management, requiring annual audited statements.

The proposal by Rep. Deborah Ross could lead North Carolina to invest over $10 billion into Bitcoin exchange-traded products, reflecting the state’s ongoing engagement with cryptocurrency legislation.