North Carolina Advances Bitcoin Integration with Strategic Reserve Bill

North Carolina has taken a significant step toward incorporating Bitcoin into its financial strategy with the introduction of HB 92, a Strategic Bitcoin Reserve bill. Proposed by House Speaker Destin Hall, the legislation seeks to allocate a portion of state funds to Bitcoin-related investments.

This initiative aligns with similar efforts in states like Florida and Kentucky, which have introduced legislation to incorporate Bitcoin into public investment portfolios. Amid growing discussions on a potential U.S. Strategic Bitcoin Reserve and former President Donald Trump’s pro-crypto stance, North Carolina is now moving forward with concrete legislative action.

Key Provisions of HB 92

Speaker Destin Hall, one of North Carolina’s most influential lawmakers, has introduced a proposal allowing up to 10% of state funds to be invested in Bitcoin-related exchange-traded products. Under the bill, only digital assets with a market capitalization of at least $750 billion would be eligible. If enacted, this legislation would permit Bitcoin investments for various state-managed funds, including public employee pensions, veterans’ home trust funds, and insurance reserves.

Bipartisan Support and Industry Involvement

HB 92 is co-sponsored by Representatives Mark Brody and Steve Ross, both long-time proponents of Bitcoin adoption. The bill reflects a growing bipartisan interest in digital assets as part of state financial strategies.

Dan Spuller, Head of Industry Affairs at the Blockchain Association, played an advisory role in shaping the bill. In a statement on X, he emphasized that this is more than just a symbolic move, calling it “a plan in motion.” Spuller also noted that while several states have introduced similar proposals, many have stalled. However, he believes North Carolina’s initiative stands a greater chance of success due to Speaker Hall’s leadership.

A Growing National Trend

North Carolina joins other states in advancing Bitcoin reserve legislation. Kentucky recently proposed a similar bill to allocate 10% of its reserves into Bitcoin and other digital assets. Likewise, Florida Senator Joe Gruters introduced SB 550, which would authorize the state’s Chief Financial Officer to invest public funds in Bitcoin.

On a national level, the concept of a U.S. Bitcoin reserve is gaining traction, particularly in light of President Trump’s support for digital assets. Industry leaders, including VanEck’s Chief Matthew Sigel, have argued that a Bitcoin reserve strategy could strengthen the U.S. economy.

What’s Next for HB 92?

HB 92 will now progress through the legislative process, where lawmakers will review and debate its provisions. If passed, North Carolina would be among the first states to allocate public funds to Bitcoin investments.

As the North Carolina Blockchain Initiative concludes its six-year tenure as a government task force, industry leaders continue to advocate for digital asset policies at both the state and federal levels. Spuller has indicated that he will now shift focus to national efforts, collaborating with organizations such as the Blockchain Association in Washington, D.C.