North Carolina Lawmakers Propose State Bitcoin Reserve

"Senate Bill 327, titled the North Carolina Bitcoin Reserve and Investment Act, would allow the Office of the State Treasurer to allocate up to 10% of public funds into BTC as part of the state's long-term financial strategy. The bill, sponsored by Senators Johnson and Overcash, passed its first Senate reading and was referred to the Rules and Operations Committee."

"Under the proposal, the Treasurer would manage the reserve using cold storage wallets with multi-signature authentication. A new department within the Treasurer's office would take custody of the assets, ensuring state control. The bill also calls for a Bitcoin Economic Advisory Board composed of industry experts to provide guidance and monthly audits to verify reserve balances, security, and performance."

"Use of the reserve would be restricted to severe financial crises, approved investment strategies, funding for critical infrastructure and economic development projects, and support for Bitcoin-related research, education, and business incentives. Any liquidation of BTC would require approval from at least two-thirds of both chambers of the General Assembly."

North Carolina's Senate Bill 327 proposes establishing a Strategic Bitcoin Reserve managed by the Office of the State Treasurer. The reserve would allocate up to 10% of public funds into Bitcoin as part of long-term financial planning. Management includes cold storage wallets with multi-signature authentication and a dedicated department within the Treasurer's office. A Bitcoin Economic Advisory Board of industry experts would provide guidance, with monthly audits ensuring security and performance verification. Bitcoin acquisitions occur through regulated U.S. exchanges with strategic timing. The bill explores mining operations for increasing holdings. Reserve use is restricted to financial crises, infrastructure funding, and Bitcoin-related initiatives. Liquidation requires two-thirds approval from both legislative chambers. Quarterly public reports track reserve status and performance.

Read at Bitcoin Magazine