North Carolina’s got a thing for Bitcoin, and it’s about to get real. Lawmakers have introduced not one, but two sets of bills that could see state retirement funds stepping into the market of cryptocurrencies like Bitcoin.
Bitcoin reserve, crypto reserve
Well, let me tell you, this is no small potatoes. The Investment Modernization Act and its Senate counterpart want to create an independent investment authority under the state’s Treasury.
This new agency would decide which digital assets are worthy of inclusion in state retirement funds, with up to 5% of those funds potentially going into crypto.
That’s right, your grandma’s pension might just be riding the Bitcoin rollercoaster.
But let’s not forget, these bills define digital assets broadly, think cryptocurrencies, stablecoins, NFTs, and more. Unfortunately no market cap criteria here, it’s all about weighing risks and rewards.
🚨 NEW: North Carolina Bitcoin Investment Bill
House Bill 506 would create a new independent NC Investment Authority headed by the Treasurer.
The NCIA would have authority to invest 5% of various state funds in digital assets. pic.twitter.com/YuYmI8YyY2
— Bitcoin Laws (@Bitcoin_Laws) March 25, 2025
Multi-sig storage
But that’s not all, because there’s another bill on the table, the Bitcoin Reserve and Investment Act, which wants to allocate up to 10% of public funds directly into Bitcoin.
This one’s all about leveraging Bitcoin as a financial innovation strategy to boost North Carolina’s economic standing.
And don’t worry, they’ve got a plan for storing that Bitcoin safely, multi-signature cold storage wallets, baby!
It can only be sold in a severe financial crisis, and even then, it needs approval from two-thirds of the General Assembly. Talk about a safety net.
Now, I know some of you might be thinking, but what about the risks? Well, let me tell you, this isn’t just North Carolina’s game.
There are already 41 Bitcoin reserve bills floating around in 23 states, and 35 of them are still live. Even the President’s getting in on the action with a Strategic Bitcoin Reserve.
Watershed
And let’s not forget about the other challenges North Carolina’s facing. Like that drought that’s been plaguing the state since October.
99 out of 100 counties experiencing drought or abnormally dry conditions, so maybe we should focus on securing our water infrastructure before jumping headfirst into the crypto pool. Or both.
In the end, it’s all about balance. North Carolina’s got big plans for its water infrastructure, with over $603 million in funding for upgrades.
Maybe it’s time to balance that with some crypto savvy. After all, as the saying goes, you can’t have your cake and eat it too, but maybe you can have your Bitcoin and drink clean water too.
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