North Carolina Proposes a Plan for the State Treasury to Invest Directly in Bitcoin

A significant Bitcoin-focused legislative proposal has emerged in the US state of North Carolina. The bill, titled the “Bitcoin Reserve and Investment Act,” proposes allocating a portion of the state’s public funds directly to Bitcoin investment.

According to the bill, the state treasurer will have the authority to allocate up to 10% of public funds to Bitcoin investments. This step aims to make North Carolina a leading state in financial innovation while also creating a long-term strategic reserve.

The bill also addresses security and governance issues in detail. According to the bill, purchased Bitcoins will be stored in cold wallets under multi-signature protection. Furthermore, the status, security, and financial performance of the reserve will be regularly audited every month.

The bill also proposes the establishment of a special “Economic Advisory Board” composed of industry experts. This board is expected to guide the state’s Bitcoin strategy and contribute to the creation of a sustainable investment approach.

*This is not investment advice.