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Lawmakers in North Carolina are taking steps to bring crypto into state retirement funds. The state’s lawmakers recently introduced two bills that would allow up to 5% of state retirement funds to be invested in crypto assets like Bitcoin.
Representative Brenden Jones introduced the bill, the Investment Modernization Act (House Bill 506), on March 24. Afterward, other lawmakers proposed a similar bill, Senate Bill 709. Both bills favor adding crypto in the state’s retirement funds.
To select appropriate options, the bills call for the creation of the North Carolina Investment Authority. This will be an independent body that screens assets suitable for state retirement funds. Some of the digital assets prioritized include cryptocurrencies, stablecoins, and NFTs.
North Carolina isn’t the only state proposing a crypto retirement fund. However, its proposals are unlike similar bills in other states. Both NC proposals do not set specific market cap requirements for the digital assets they could invest in. However, the investment authority must ensure funds are securely stored. And carefully assess risk before any investments are made.
North Carolina’s Growing Interest in Bitcoin
These bills aren’t North Carolina’s first move into Bitcoin. The state recently saw Bill 327, which proposed investing up to 10% of public funds into Bitcoin. Lawmakers believe such a move is a part of a broader financial innovation strategy. The bill aims to strengthen North Carolina’s economy through Bitcoin investments.
JUST IN:
North Carolina Senators introduces a bill to invest up to 10% of public funds into #Bitcoin pic.twitter.com/2A6r7YjDE1
— Bitcoin Magazine (@BitcoinMagazine) March 19, 2025
If passed, the bill would require the state treasurer to store Bitcoin in a multi-signature cold wallet. Plus, it could only be sold during a major financial crisis and only with approval from lawmakers.
The Bigger Picture
North Carolina is joining a growing trend. About 41 Bitcoin reserve bills have been introduced across 23 states. Interestingly, 35 of these bills are still active. At the national level, President Trump has supported a Strategic Bitcoin Reserve, using crypto seized from criminal cases.
Wowza. President @realDonaldTrump is directing his Presidential Working Group to move forward on a U.S. strategic reserve to include American #crypto assets $XRP, $SOL and $ADA. pic.twitter.com/Aju6WxXjoi
— Eleanor Terrett (@EleanorTerrett) March 2, 2025
With more states exploring Bitcoin investments, North Carolina could be positioning itself at the forefront of crypto-friendly financial policies.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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