North Carolina Proposes 10% Bitcoin Reserve Law
North Carolina's House passed a separate bill in February 2025 allowing the state treasurer to invest in digital assets with a ₱45 trillion ($750 billion) market cap threshold—effectively Bitcoin only—at a 71-44 margin. Senate Bill 327, now in the Rules and Operations Committee, would authorize the Office of State Treasurer to allocate up to 10% of public funds to Bitcoin.
Key Takeaway
North Carolina joins nine other states racing to build strategic Bitcoin reserves from public funds.
Senators Johnson and Overcash sponsored North Carolina's Bitcoin Reserve and Investment Act, Senate Bill 327, which passed its first Senate reading on March 19, 2026. The bill now sits with the Rules and Operations Committee. Bitcoin must be purchased through regulated US-based exchanges and stored in cold wallets with multi-signature authentication. A new department within the treasurer's office would take custody of the assets.
Liquidation requires two-thirds approval from both chambers of the General Assembly. The treasurer can only tap the reserve during severe financial crises, approved investment strategies, critical infrastructure projects, or Bitcoin research and business incentives. Monthly audits would verify balances and security, while quarterly reports would go to the General Assembly and appear publicly on the treasurer's website.
The bill directs the treasurer to explore Bitcoin mining operations as a way to increase state holdings. It also creates a Bitcoin Economic Advisory Board of industry experts to guide strategy. North Carolina may use the reserve to back bonds as an alternative financing tool.
Texas, New Hampshire, and Arizona have already enacted Bitcoin reserve laws. Maryland, Iowa, Kentucky, Michigan, South Dakota, Illinois, Tennessee, and Missouri introduced similar legislation, while Oklahoma, Utah, Pennsylvania, Wyoming, Montana, and Florida have bills stuck in committee or rejected.
This article was written based on reporting from Bitcoin Magazine.
