While other states are still debating whether cryptocurrency belongs in government coffers, North Carolina has made its move. In a bold – some might say reckless – legislative move, state lawmakers have greenlit a plan to invest billions of taxpayer dollars into Bitcoin. The North Carolina Bitcoin Reserve and Investment Act, introduced by Senators Johnson and Overcash in March 2025, sailed through approval by early May.
Let that sink in: North Carolina is betting big on digital gold. The new law authorizes the State Treasurer to park up to 10% of public funds in Bitcoin, while House Bill 92 allows up to 5% of retirement funds to be invested in digital assets. That’s right – your grandmother’s pension fund might soon include cryptocurrency alongside boring old stocks and bonds. The state’s massive $129 billion pension plan will be among the funds affected by this legislation. Brad Briner, the state treasurer, has expressed concerns about crypto’s high volatility as a significant risk for pension investments.
North Carolina goes all-in on crypto, wagering billions in taxpayer and pension dollars on Bitcoin’s digital promise.
The catch? They’re not going full crypto-wild. The legislation includes some guardrails – only Bitcoin makes the cut, and it must maintain a market cap above $750 billion annually. No Dogecoin or meme coins here, folks. The state is also playing it safe by using regulated exchange-traded products rather than diving directly into blockchain transactions. The fixed supply cap of Bitcoin was a key factor in the state’s decision to focus exclusively on this cryptocurrency.
Implementation kicks off immediately following the May 2025 passage, with the State Treasurer taking the wheel under the watchful eyes of the Governor and Council of State. It’s all part of North Carolina’s grand plan to position itself as America’s cryptocurrency pioneer. Because apparently being first in flight wasn’t enough – now they want to be first in Bitcoin too.
The whole operation comes wrapped in a neat governance package, complete with digital wallet guidelines and management frameworks. North Carolina officials are treating this like a long-term strategy, not some crypto day-trading adventure.
But make no mistake – this is unprecedented territory for state finance. No other state has committed to such a significant cryptocurrency position with public funds. Whether this move goes down in history as brilliant financial innovation or a catastrophic miscalculation remains to be seen.
