North Carolina House Passes Bill to Allow Crypto Investments by State Treasurer

The North Carolina House of Representatives has passed legislation that would allow the state’s treasurer to invest a portion of public funds in approved cryptocurrencies.

The Digital Assets Investment Act, known as House Bill 92, advanced on April 30 with a 71 to 44 vote and now moves to the state Senate for further consideration.

Introduced in February by Republican House Speaker Destin Hall, the bill authorizes the treasurer to allocate up to 5% of the state’s total investments into designated digital assets.

However, any such investment would require an independent third-party assessment to ensure that custody, risk management, and regulatory compliance standards are met.

In a new amendment to the bill, the treasurer is also permitted to evaluate whether members of public retirement and deferred compensation plans could opt into digital asset investments through exchange-traded products (ETPs).

In a related move, the House also passed the State Investment Modernization Act, or House Bill 506, with a near-unanimous 110 to 3 vote.

The bill proposes the establishment of the North Carolina Investment Authority (NCIA), which would assume control of investment decisions from the state treasurer.

If enacted, the NCIA—not the treasurer—would have the authority to invest in cryptocurrencies, contingent on board approval and third-party validation.

North Carolina Treasurer Brad Briner has expressed support for both bills, according to local outlet NC Newsline.

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

The state is now positioning itself alongside Arizona in advancing crypto-related public investment frameworks.

Arizona’s legislature recently passed two crypto reserve bills, SB 1025 and SB 1373, which now await Governor Katie Hobbs’ decision.

If approved, North Carolina would become one of the few states actively integrating digital assets into public financial management.

The adoption of Bitcoin has found notable momentum statewide in the U.S.

According to data from Bitcoin Law, 47 Bitcoin reserve bills have been introduced across 26 states, with 41 currently active.

Just recently, Kentucky Governor Andy Beshear officially signed House Bill 701, known as the “Bitcoin Rights” bill, into law—making the state one of the latest to enact legislation protecting digital asset users and operations.

Publicly traded companies increased their Bitcoin holdings by 16.1% in the first quarter of 2025, signaling continued institutional interest in the leading cryptocurrency despite market volatility.

According to crypto asset manager Bitwise, total corporate Bitcoin holdings climbed to approximately 688,000 BTC by the end of Q1, with companies adding 95,431 BTC over the three-month period.

Bitwise reported the combined value of these holdings reached $56.7 billion, based on a Q1 closing price of $82,445 per Bitcoin—representing a 2.2% increase in value.

More recently, healthcare technology firm Semler Scientific expanded its Bitcoin holdings with a fresh $10 million purchase, signaling a continued strategic pivot toward digital assets.

The latest purchase brings the company’s total Bitcoin treasury to over 3,300 BTC, valued at approximately $300 million based on current market prices.

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