North Carolina State Budget in the US is Preparing to Buy Bitcoin with 10% of Its Budget! Here are the Details

North Carolina is taking a bold step towards Bitcoin with the enactment of bill SB327, which authorizes the State Treasurer to allocate up to 10% of public funds to Bitcoin (BTC) as part of its financial reserves.

North Carolina Moves to Establish Bitcoin Reserves with SB327 Bill

Fundamental Provisions of SB327

The draft outlines strict rules to ensure the secure storage, transparency, and responsible management of the state's Bitcoin assets:

• Storage: Bitcoin multi-signature (multi-sig) will be kept in cold storage for enhanced security.
• Reserve Proof: Assets will be subjected to monthly audits to ensure transparency and accountability.
• HODLing Strategy: Bitcoin sales will be significantly restricted, only allowed in cases of serious financial crises and under strict conditions.

Growing Trend in the Adoption of Bitcoin at the State Level

North Carolina joins the growing list of U.S. states exploring Bitcoin as a treasury asset, following other jurisdictions aimed at diversifying reserves and protecting against inflation.

The proposal highlights the increasing role of Bitcoin in state-level financial strategies and aligns with broader national discussions on crypto-friendly policies and the integration of digital assets into public finance.