North Carolina Crypto Investment Bill Moves to Senate After House Approval

Highlights:

• The North Carolina House has passed a bill permitting the state treasurer to invest in selected cryptocurrencies.
• House Bill 506 seeks the creation of the North Carolina Investment Authority for crypto investments.
• Arizona leads in crypto legislation, with bills to create state cryptocurrency reserves.

On April 30, the North Carolina House of Representatives approved a new law that would let the state’s treasurer invest some public money in certain approved cryptocurrencies. House Bill 92 passed with a 71-44 vote and is now headed to the Senate. In February Speaker Destin Hall introduced the bill that permits the state treasurer to invest 5% of public funds in digital assets. These assets must be part of an exchange-traded product and have an average market cap of at least $750 billion over the past year.

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JUST IN: 🇺🇸 North Carolina #Bitcoin Reserve legislation passes the House. pic.twitter.com/pHy8b5dUsZ

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2025

NC Bill Requires Third-Party Crypto Review

Under House Bill 92, the investments must go into mutual fund-style products, not direct purchases of coins, to reduce risk in the volatile crypto market. Supporters, including State Treasurer Brad Briner, say adding crypto is a smart way to help improve the fund’s returns. 

The bill also directs the Treasurer’s office to explore investment options and set contribution limits. It calls for creating educational materials on digital asset risks. Additionally, a study is proposed to assess a state-managed reserve for seized or forfeited crypto assets, overseen by the State Bureau of Investigation and law enforcement.

To navigate the changing investment landscape, lawmakers approved House Bill 506 (HB 506), establishing the North Carolina Investment Authority (NCIA). The five-member board will consist of the state treasurer and appointees from the governor and legislative leaders. The NCIA will manage the state’s $127 billion investment portfolio, covering both traditional financial assets and digital assets.

Arizona Takes the Lead in Crypto Bill Legislation

North Carolina follows Arizona in pushing for laws permitting local governments to invest in digital assets. On April 28, Arizona’s House approved two separate bills—SB 1025 and SB 1373—each providing a different approach to creating a state cryptocurrency reserve. Arizona is the only state where both the House and Senate passed crypto bills, awaiting Governor Katie Hobbs’ decision.

Any bill not already on my desk will be vetoed until we have a serious, bipartisan funding solution that protects health care for Arizonans with disabilities.

— Governor Katie Hobbs (@GovernorHobbs) April 17, 2025

Corporate Bitcoin Holdings Surge Amid Growing Institutional Interest

Publicly traded companies also grew their Bitcoin holdings by 16.1% in the first quarter of 2025, showing ongoing interest in the top cryptocurrency despite market ups and downs. Crypto asset manager Bitwise reported that total corporate Bitcoin holdings reached about 688,000 BTC by the end of Q1, with companies adding 95,431 BTC during the three months.

Bitwise reported that the total value of these holdings reached $56.7 billion. This was based on a Bitcoin price of $82,445 at the end of Q1, showing a 2.2% increase in value.

Companies are buying bitcoin, Q1 2025 edition. pic.twitter.com/qZc62N8vu5

— Bitwise (@BitwiseInvest) April 14, 2025

Recently, healthcare tech company Semler Scientific bought an additional $10 million in Bitcoin, continuing its shift toward digital assets. With this new purchase, the company now holds over 3,300 BTC, worth around $300 million at current market prices.

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