The world of cryptocurrency is getting a major nod from North Carolina lawmakers! A new bill, the Digital Assets Investments Act, is making waves as it seeks to allow the state to invest in Bitcoin exchange-traded products (ETPs). This move could mark a significant shift in how governments view digital assets, paving the way for broader adoption. 💡💰
What’s in the Bill? 📜
Filed as HB92 by North Carolina Speaker of the House Destin Hall, this proposed legislation aims to diversify the state’s investment portfolio by including “qualifying digital assets.” But not just any cryptocurrency will make the cut! The bill clearly states that eligible assets must have an average market capitalization of at least $750 billion over the past year. Right now, that means only Bitcoin qualifies! 🏆
Key Takeaways from the Bill:
✅ The State Treasurer can invest in Bitcoin ETPs.
✅ Only assets with a $750 billion market cap are eligible.
✅ Investments are capped at 10% of the fund’s total balance.
✅ Co-sponsored by Representatives Stephen Ross, Mark Brody, and Mike Schietzelt.
Why Is North Carolina Interested in Crypto? 🤔
State officials see Bitcoin as a potential high-value investment with strong growth potential. In a statement, Speaker Destin Hall emphasized that digital asset investments could bring positive returns for the state, positioning North Carolina as a leader in technological innovation. 🚀
The Bigger Picture 🔎
North Carolina isn’t alone in this move. More than a dozen U.S. states—including Texas, Pennsylvania, Ohio, and Oklahoma—are also exploring legislation that supports Bitcoin reserves. As more states take this approach, the idea of holding Bitcoin as a strategic asset is gaining traction. The shift toward Bitcoin reserves (read more) has also been fueled by President Donald Trump’s pro-crypto stance, with some reports suggesting he favors the idea of a national Bitcoin stockpile. 🇺🇸💎
Bitcoin’s Market Moves 📈
At the time of this announcement, Bitcoin saw a 1.1% increase in value over 24 hours, trading at approximately $98,351. This rise reflects growing institutional interest in crypto, and if more states follow suit, Bitcoin’s price could see even greater momentum! 🚀📊
What’s Next? 🌍
If the Digital Assets Investments Act passes, North Carolina will become one of the few states to actively invest in Bitcoin through exchange-traded products. This could set an example for other states to follow, leading to wider government adoption of crypto assets.
As the world continues to embrace blockchain technology and digital finance, it’s clear that Bitcoin is no longer just an asset for individual investors—it’s becoming a serious player in institutional and governmental portfolios. 🏦💰
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What do you think? Should more states start adding Bitcoin to their investment strategies? Let’s discuss in the comments! 🗣️
Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before investing.
source : finance.yahoo
