North Carolina Bitcoin Investment Bill would create an investment authority to invest 5% of state funds in digital assets

Bitcoin Laws disclosed details of the Bitcoin investment bill in North Carolina, namely House Bill 506, which will create a new independent North Carolina Investment Authority (NCIA) led by the state treasurer. NCIA will have the authority to invest 5% of various funds in the state in digital assets.

The HB506 bill in North Carolina does not actually create a 'Bitcoin reserve'. The HB506 bill in North Carolina may conceptually be closest to two bills in Florida: HB 487 and SB 550. These bills authorize state-level public funds to invest in Bitcoin, but do not create reserves (for example, there are no provisions for mandatory holdings).