North Carolina has proposed a new bill, the "North Carolina Digital Assets Investment Act" (HB 92), which would allow the state treasurer to invest public funds in certain digital assets.
These assets must be publicly traded and have a minimum market capitalization of $750 billion in the previous 12 months, making bitcoin the only eligible option at the moment.
Up to 10% of the balance of any state fund can be invested in these assets, with the aim of diversifying the state's investment portfolio and potentially generating positive returns.
The bill co-sponsor Mike Schietzelt said:
"Blockchain technology, decentralized finance, and other innovations in the crypto space will shape our future in many new ways. North Carolina is poised to capitalize on these emerging opportunities."