The latest state efforts to create investment of public money into cryptocurrency, a bill introduced Monday in North Carolina, is supported by the state’s speaker in House Destin Hall.
The high-profile North Carolina Push is considering adding as much as 10% of its general and motorway funds to digital assets, which limits it to crypto with such a high market value that only Bitcoin (BTC) currently qualifies. It joins 18 other states with bills that weigh different ways of putting public money into crypto, with many of them focusing on investing parts of their state’s pension fund.
“Investment in digital assets like Bitcoin not only has the potential to generate positive yields for our state investment fund, but also places North Carolina as a leader in technological adoption and innovation,” Hall said in a statement.
Two other states – Wisconsin and Michigan – already have crypto in their pension portfolios for public employees. And at least two more states are in serious discussion to join the others, making a total of 23, which sets close control to the idea of putting parts of their financial futures in the sector of digital assets.
The majority of this trend started when President Donald Trump openly embraced a similar idea at the federal level. He issued an executive order in his opening days in the Embed, calling on his administration to explore the idea of storing crypto assets. There is also legislation in Congress to make it happen, but it has not yet progressed.
Among the states at this time, Utah’s leading efforts are after clearing his state house and moving to the Senate there.
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