- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Investment authority proposed by North Carolina’s legislative body.
- Potential allocation of $950 million to Bitcoin investments.
This initiative positions North Carolina as a leader in state-level cryptocurrency adoption, with potential effects on cryptocurrency markets and the state’s fiscal strategy.
North Carolina Republican Representatives Todd Johnson, Brad Overcash, and Timothy Moffitt introduced the 2025 State Investment Modernization Act. House Bill 506 proposes creating an independent Investment Authority. Bitcoin’s current price as of March 25, 2025, is approximately $83,820.
This legislation allows for a 10% allocation of North Carolina’s $9.5 billion General Fund into Bitcoin. State Treasurer Brad Briner would manage this allocation, proposing a Bitcoin Reserve and a Bitcoin Economic Advisory Board.
BREAKING: North Carolina has introduced a bill to allocate up to 10% of the state’s public funds into #Bitcoin. This could be up to $950 million invested directly into BTC. The snowball is rolling. – Dennis Porter, CEO, Satoshi Action Fund
The bill’s introduction follows House Bill 92, which stalled in February 2025. It sought Bitcoin exchange-traded products. The new proposal aims for higher state-level cryptocurrency engagement.
Dennis Porter, CEO of Satoshi Action Fund, stated the potential for up to $950 million in Bitcoin investment. If passed, market effects may include increased demand for Bitcoin.
This could be significant considering the bill’s ultimate approval could validate cryptocurrencies as a state-backed investment option. Financial impacts depend on legislative progress, and broader adoption might accelerate innovation.