The State of North Carolina passed a Bill authorizing the state treasurer to allocate 10% of the State’s public fund to Bitcoin.
Bitcoin Laws reported that Bill SB327 will require the state to set aside 10% of its public funds for the acquisition of Bitcoin.
The state’s Bitcoin reserve will be kept in a multi-signature cold wallet, and monthly proof of reserve audits will be conducted.
The Bitcoin in the reserve would only be sold during a serious financial crisis. The strategy is to hold it for the long term.
North Carolina joins the League of American States, setting up a strategic bitcoin reserve as an investment alternative.
Two Bitcoin Reserve Bills
North Carolina now has two live Bitcoin bills, House Bill 92 and Senate Bill 327.
The state currently has $9.5 billion in its general fund and looks to invest some of that into its Bitcoin reserve.
The number of American states pivoting into Bitcoin investment has steadily increased over the years.
In Q1 2025, 21 states introduced Bitcoin reserve bills, and 19 were still active at the time of the report.
States like Utah, Texas, Arizona, and Oklahoma had active bills in the Senate, with a couple of them at advanced stages.
Meanwhile, states such as Idaho, Montana, and North Dakota saw their proposals rejected by early 2025 due to concerns over volatility.
The Donald Trump administration Pro crypto stance is driving up the ramp-up in states applying for a Bitcoin reserve.
Recently, The 47th president of the United States signed an Executive Order ordering his digital assets team to set up a Strategic Bitcoin Reserve.
The Strategic Bitcoin Reserve was capitalized with approximately 200,000 Bitcoins valued at roughly $17 billion at the time, which the U.S. government already possessed, primarily under the Treasury Department’s control.
Trump’s Order stipulates that Bitcoin would serve as a store of value, like the gold reserve in Fort Knox, and that it could be sold under any circumstances.
Bitcoin, at the time of the report, is exchanging hands for $82,729, dropping from its all-time high of $108,786.
