According to the bill proposed by the speaker of the House of Representatives of North Carolina Destin Hall, belonging to the Republican Party, the state authorities will be able to include digital assets in their reserve. One of the basic requirements of the bill – these crypto assets should be a product traded on the exchange (ETP).
To include in a strategic reserve, crypto assets must have an average market capitalization of at least $ 750 billion over the past 12 months. The state authorities can spend no more than 10% of the balance of any state fund for the purchase of bitcoin. Hall is sure that cryptocurrency investments will help the state more effectively fight the growing inflation and a decrease in the value of the US dollar.
“Investments in digital assets, such as bitcoin, will bring good profitability to our state investment fund. In addition, North Carolina will become one of the leaders in the introduction of the latest technologies and innovations. Our initiative corresponds to the vision of President Donald Trump about the national reserve in bitcoins, ”Hall wrote on the social network Kh.
The number of US states where bills appear on the creation of a state reserve in bitcoins are increasing rapidly. Similar legislative initiatives have already been proposed in 19 states, and in Uta this proposal has already been approved by the House of Representatives. If the document is approved by the Senate and signed by the state governor, Utah will become one of the first American states, whose authorities will be able to keep bitcoin in their reserve.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
