Key Takeaways
- North Carolina's SB327 proposes allocating up to 10% of public funds to Bitcoin.
- The bill requires multi-signature cold storage and monthly audits.
- The proposal follows a national push for Bitcoin reserves under Trump.
Introduced by Republican Senators Todd Johnson, Brad Overcash, and Timothy Moffitt, the bill aims to position North Carolina as a leader in state-level Bitcoin adoption.
It mandates that Bitcoin be stored in multi-signature cold wallets and subject to monthly audits for transparency and security.
Any liquidation would require approval from two-thirds of the General Assembly and would only be permitted in cases of a severe financial crisis.
Bitcoin Economic Advisory Board
SB327 also proposes the creation of a Bitcoin Economic Advisory Board to oversee the reserve and explore Bitcoin mining operations as a way to grow state holdings.
Additionally, the bill allows Bitcoin-backed investment strategies, such as staking and lending, to generate yield.
Relation to House Bill 92
The introduction of SB327 follows House Bill 92 (HB92), which seeks to invest state funds in Bitcoin exchange-traded products (ETPs).
The ETPs must track digital assets with an average market capitalization of at least $750 billion over the past year—making Bitcoin the sole qualifying asset.
Growing movement for Bitcoin reserves
North Carolina joins a growing number of states pursuing Bitcoin reserves.
Arizona, Texas, and Utah have debated similar legislation, while President Donald Trump has proposed a national Bitcoin reserve as part of his administration’s broader strategy to make the U.S. the “crypto capital of the world.”
