The state of North Carolina just made a significant breakthrough by passing bills that allow public investment in Bitcoin and digital assets, opening the door to the legalization of cryptocurrency in the state budget. The two bills HB92 and SB327 are attracting attention not only in North Carolina but across the United States, as many other states are considering similar moves. Below is a detailed summary of these developments and their potential impact on the financial market.
HB92 Bill: Public Investment in Bitcoin and Digital Assets
On May 1, 2025, the House #NorthCarolina passed bill HB92, or the 'Digital Asset Investment Act', with a vote of 71-44. The bill allows the state treasurer to invest a maximum of 5% of public funds into approved digital assets, including cryptocurrency-related exchange-traded products (ETPs). The condition is that the asset must have an average market capitalization of at least $750 billion over the past 12 months - currently, only Bitcoin (BTC) meets this requirement.
Additionally, HB92 requires research on integrating digital assets into retirement plans and deferred compensation for state employees, as well as developing educational materials on investment risks. The bill also proposes the establishment of a state-managed digital asset reserve fund to handle seized assets, under the oversight of the State Bureau of Investigation and law enforcement agencies.
SB327 Bill: Official Bitcoin Reserve Fund
Alongside #HB92 , the North Carolina Senate is reviewing bill SB327, the 'Bitcoin Reserve and Investment Act', which was introduced on March 19, 2025. This bill allows for a maximum of 10% of public funds to be allocated to Bitcoin, establishing an official Bitcoin reserve fund and paving the way for activities such as staking, lending, and profit-generating strategies. SB327 has passed its first reading in the Senate and is awaiting further committee review. If approved, this would be a significant step towards legalizing Bitcoin in public budgets.
Larger Context in the U.S.
North Carolina is not the only state interested in Bitcoin. Arizona, Utah, and Texas are also considering Bitcoin reserve bills, while more than 12 other states are researching related proposals. Indiana and Florida are even considering adding Bitcoin to their public pension funds. However, not everywhere is favorable. Similar proposals in Oklahoma, Montana, Pennsylvania, North Dakota, South Dakota, and Wyoming have been halted due to a lack of support. The HB92 bill has also scaled down from the initial 10% of public funds to 5% to align with the policy context.
Impact Analysis
The legalization of public investment in Bitcoin by North Carolina could set a precedent for other states, promoting the acceptance of cryptocurrency in public financial systems. However, with a 5% limit and cautious policy, this may only be a trial step. Activities such as Bitcoin staking and lending in #SB327 also open up profit potential, but come with price volatility risks that states need to carefully consider.
Conclusion
North Carolina is leading the way in incorporating Bitcoin into public budgets, but is this the start of a new wave in the U.S. or just an experiment? With bills like HB92 and SB327, the state is laying the groundwork for the integration of digital assets into public finance, but it still needs time to prove its effectiveness. Investors and the cryptocurrency community should closely monitor this trend to seize opportunities!