North Carolina Considers Allowing Public Pension Funds to Invest in Bitcoin and Crypto

North Carolina lawmakers are considering legislation (House Bill 506 and Senate Bill 709), introduced on March 24 and March 25, that could allow the state to invest up to 5% of its public retirement funds into digital assets, including Bitcoin and other cryptocurrencies. The proposed North Carolina Investment Authority would operate under the state Treasury and be led by the Treasurer. The Investment Authority would have discretion to analyze the suitability of each asset, weighing both risk and potential returns. All assets must be held in secure custody solutions. The bills do not mandate a permanent crypto reserve, but authorize the holding of digital assets like Bitcoin for the long term. If passed, the new body could oversee decisions regarding digital asset investments and could serve as a model for other US states seeking to modernize their public investment strategies.