A recently proposed legislation in North Carolina is considering investing public funds into Bitcoin exchange-traded products.
The bill, introduced by Rep. Deborah Ross, would allow for the State Treasurer to invest up to 10% of the state’s money and retirement systems into these products, potentially amounting to over $10 billion.
While the bill does not explicitly mention Bitcoin, it requires investments in exchange-traded products tracking digital assets with a minimum average market capitalization of $750 billion over the past twelve months, leaving only Bitcoin currently eligible.
Similar bills have been introduced in other states, with some specifically mentioning Bitcoin and others allowing for direct investments into cryptocurrencies.
