NC Bitcoin Reserve and Investment Act
Senate Bill 327, the North Carolina Bitcoin Reserve and Investment Act, would authorize the State Treasurer to create a strategic Bitcoin reserve for North Carolina and to allocate up to 10% of public funds into Bitcoin. The bill frames Bitcoin as a long-term state asset and financial innovation strategy, and it directs the Treasurer to manage acquisitions, custody, security, and reporting for the reserve. It also allows the Treasurer to pursue Bitcoin-backed investment strategies, including staking, lending, and other regulated yield-generating activities.
The bill sets out detailed operational requirements for the reserve. Bitcoin would be held in cold storage with multi-signature authentication, managed through a dedicated unit within the Treasurer’s office, and overseen by a Bitcoin Economic Advisory Board made up of industry experts. The Treasurer would be required to conduct monthly audits, maintain insurance protections, and buy Bitcoin through regulated U.S.-based exchanges. The bill also contemplates exploring Bitcoin mining as a way to increase holdings.
The reserve would be treated as a long-term asset with limited uses. It could be tapped only in a severe financial crisis, as part of a State-approved investment strategy, for General Assembly-approved infrastructure and economic development projects, for Bitcoin-related research and education, or to support business incentives. Liquidation would require approval by two-thirds of the members present and voting in both chambers, and the reserve could also be used to back bonds for public projects. The Treasurer would have to comply with applicable federal and state cryptocurrency and tax laws and would be directed to advocate for Bitcoin-friendly federal regulation.
If enacted, the bill would significantly expand the Treasurer’s authority over state investment policy and create new statutory structures for holding and managing cryptocurrency as a public asset. It would also add reporting obligations to the General Assembly and public transparency requirements through quarterly reports posted online. The measure would likely affect state treasury operations, public fund management, and any future use of Bitcoin in state finance or public project funding.
The overall sentiment in the bill text is strongly supportive of Bitcoin adoption and positions North Carolina as a leader in state-level cryptocurrency policy. Because there are no committee transcripts or recorded votes provided, there is no direct evidence of legislative debate or opposition in the available materials. The main points of likely contention are the risk of investing public funds in a volatile asset, the use of state resources for staking or lending, the proposal to mine Bitcoin, and the broad policy implications of tying state reserves to cryptocurrency markets.
The bill would amend state financial management practices by authorizing the State Treasurer to invest public funds in Bitcoin, create a dedicated Bitcoin reserve, and establish new custody, audit, reporting, and advisory structures. It would also impose special approval requirements for liquidation and reserve use, while directing compliance with cryptocurrency and tax laws and encouraging federal policy support for Bitcoin.
The bill’s tone is enthusiastic and pro-cryptocurrency, presenting Bitcoin as a strategic reserve asset and economic development tool. No committee discussion or vote history is available, so the broader legislative sentiment cannot be measured from recorded debate; however, the bill itself clearly reflects support from its sponsors for expanding state involvement in digital assets.
Likely areas of contention include the prudence of investing up to 10% of public funds in a highly volatile asset, the legality and risk of staking or lending public Bitcoin holdings, and whether the state should engage in Bitcoin mining. Critics may also question the need for a special advisory board, the adequacy of security and insurance protections, and the wisdom of requiring supermajority approval for liquidation while allowing the reserve to be used for bonds and infrastructure financing.