Key Takeaways
- Twin North Carolina bills propose up to 5% of state retirement funds in Bitcoin.
- A separate bill would allow 10% of public funds to be held in Bitcoin reserves.
- North Carolina joins 23 states with active Bitcoin reserve legislation.
North Carolina lawmakers have introduced matching bills that could allow up to 5% of the state’s retirement system to be invested in digital assets, including Bitcoin.
House Bill 506: The Investment Modernization Act
House Bill 506, titled the Investment Modernization Act, was introduced by Representative Brenden Jones on March 24.
The following day, an identical proposal—Senate Bill 709—was introduced in the Senate.
Both aim to establish the North Carolina Investment Authority, an independent agency that would evaluate which digital assets could be added to the state’s retirement portfolio.
Eligible digital assets
These assets could include Bitcoin, stablecoins, NFTs, or other electronic forms that offer economic or proprietary rights.
Unlike similar legislation in other states, these bills do not require a minimum market cap for eligible assets.
Allocation & long-term holding
While the bills permit up to 5% allocation into digital assets, they do not mandate holding Bitcoin or any specific asset long-term.
Bitcoin Laws noted that House Bill 506 wasn’t drafted as a Bitcoin reserve bill.
🚨 NEW: North Carolina Bitcoin Investment Bill
— Bitcoin Laws (@Bitcoin_Laws) March 25, 2025
House Bill 506 would create a new independent NC Investment Authority headed by the Treasurer.
The NCIA would have authority to invest 5% of various state funds in digital assets. pic.twitter.com/YuYmI8YyY2
Senate Bill 327: The Bitcoin Reserve & Investment Act
Separately, Senate Bill 327—the Bitcoin Reserve and Investment Act—was introduced on March 18.
It would allow the state treasurer to allocate up to 10% of public funds specifically into Bitcoin.
This bill requires Bitcoin to be stored in multi-signature cold storage and accessed only in a “severe financial crisis” with a two-thirds majority approval from the General Assembly.
Positioning North Carolina
If passed, these measures would position North Carolina alongside 23 other states considering similar Bitcoin reserve legislation.
