North Carolina Moves Toward Crypto Investments in Public Funds
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North Carolina is making important moves toward using digital assets in its public investment strategies. The state’s House of Representatives passed two major bills that could allow the use of cryptocurrencies like Bitcoin in government-managed funds. House Bill 92, the Digital Assets Investment Act, would let the state treasurer invest up to 5% of state funds in approved cryptocurrencies.
Another bill, House Bill 506, could transfer investment authority from the treasurer to a new group called the North Carolina Investment Authority (NCIA). To this end, the bills still need approval from the state Senate, and if passed, the state would join a growing list of U.S. states embracing cryptocurrency.
New Rules for Crypto Investments in Public Funds
House Bill 92 was introduced by Republican House Speaker Destin Hall and passed with a 71-44 vote. It is a bill that allows the state’s treasurer to put part of North Carolina’s public funds into digital assets but under strict conditions. Moreover, a third-party expert must review each investment to ensure safety, legal compliance, and proper management. This helps reduce risks and increase transparency.
To this end, the bill also includes a new option for public employees. The treasurer can study whether retirement and savings plans should include exchange-traded products (ETPs) based on digital assets. This could give workers more ways to grow their savings through investments in cryptocurrencies like Bitcoin while still following strict rules to protect their money.
New Investment Authority and Rising Support
House Bill 506, called the State Investment Modernization Act, was passed with strong support (110-3). It aims to create the NCIA, which would handle all investment decisions, including those involving crypto. Any such decisions would still need third-party approval. However, North Carolina’s treasurer, Brad Briner, supports both bills.
To this end, other states like Arizona and Kentucky are also making moves in crypto investment laws. Arizona passed two crypto reserve bills, and Kentucky signed the “Bitcoin Rights” bill into law. Meanwhile, U.S. public companies increased their Bitcoin holdings by 16.1% in early 2025. As it stands, firms like Semler Scientific added millions in Bitcoin, showing rising trust in digital assets. North Carolina may soon join this trend officially.
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