A newly introduced bill in North Carolina, supported by House Speaker Destin Hall, proposes allocating up to 10% of the state's general and highway funds to digital assets, with a focus on high-market-capitalization cryptocurrencies like Bitcoin. This move joins similar efforts in 18 other states, many of which are exploring investment opportunities in cryptocurrency for their state retirement funds.
According to Hall, "Investing in digital assets like Bitcoin can yield positive returns for our state investment fund and establish North Carolina as a leader in technological innovation." Wisconsin and Michigan have already incorporated crypto into their public employee retirement portfolios, with at least two more states actively discussing similar moves, bringing the total to 23 states closely examining the potential of investing in digital assets. This trend gained momentum after President Donald Trump expressed support for exploring the concept of a federal crypto reserve, and while congressional legislation has been proposed, it has yet to advance. Utah is currently at the forefront of state-level efforts, having passed its state house and moved to the senate. The development reflects a broader interest in cryptocurrency investments across the United States.