North Carolina recently introduced House Bill 92, aiming to invest up to 10% of public funds in Bitcoin exchange-traded products (ETPs). With this move, the state becomes the 21st in the nation to explore Bitcoin investments, signifying a growing acceptance of cryptocurrency.

Under this proposed legislation, strict investment guidelines will apply. Digital assets must maintain a market cap of at least $750 billion. Additionally, any third-party managers handling these assets will need to possess a minimum of $100 million in assets. This requirement showcases North Carolina’s cautious approach to engaging with the volatile cryptocurrency market while also indicating a commitment to responsible investment strategies.

Investors, public officials, and crypto advocates will watch how this bill progresses. If successful, it might encourage more states to adopt similar measures, further integrating cryptocurrencies into institutional portfolios.