Bitcoin
Experts believe the crypto reserve bill could pass.

Yesterday, US Representatives Stephen Ross, Mark Brody, Mike Schietzelt and Destin Hall introduced the NC Digital Assets Investments Act in the North Carolina House of Representatives. This bill would allow the state treasurer to invest in qualified digital assets to create a reserve fund.

House Bill 92 mentioned that exchange-traded products (ETPs) of digital assets with an average market cap of at least £606.78 billion could be bought using state funds up to an amount equal to 10% of the state’s funds.

The interest and other income from the investments would be paid into the state’s General Fund, except funds from ETPs of the Highway Fund and Highway Trust Fund.

According to Bitcoin Reserve Monitor, North Carolina could purchase 40,733 BTC, assuming a BTC price of £79,423. While the bill doesn’t mention Bitcoin specifically, it is the only cryptocurrency that would qualify under its provisions.

Furthermore, the bill stated that it could use funds from state special (“rainy day”) funds, such as the teachers’ retirement fund, the state lottery fund, the state property fire insurance fund, and the needs-based public school capital fund, among many others, which are held by the state treasurer.

The Crypto Reserve Fund Bill Likely To Pass

The proposed bill w