On Tuesday, North Carolina lawmakers proposed a bill to include cryptocurrencies, such as Bitcoin, in the state’s retirement system.
According to a memo from the General Assembly of North Carolina Session 2025, two bills introduced by the state legislature—House Bill 506 and Senate Bill 709—would allow the state treasurer to invest up to five percent of retirement funds in digital assets.
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A move toward modern investments
Representative Brenden Jones, who introduced the Investment Modernisation Act (HB 506), stated, “This is about ensuring our state’s retirement system stays ahead of the curve in a rapidly evolving financial landscape.”
The bill proposes creating an independent investment authority under the state treasury to evaluate which digital assets, including cryptocurrencies, stablecoins, and non-fungible tokens (NFT), are suitable for the retirement fund.
Unlike similar bills in other states, North Carolina’s legislation does not impose market cap restrictions on digital assets. However, the newly formed North Carolina Investment Authority would be required to assess risks and ensure secure custody solutions for any crypto holdings.
Meanwhile, this isn’t the first crypto-related bill North Carolina has seen this year. Earlier in March, senators introduced the Bitcoin Reserve and Investment Act (SB 327), which mandates allocating up to 10 percent of public funds to Bitcoin.
Republican Senator Todd Johnson, a co-sponsor, emphasised, “Bitcoin represents a strategic financial innovation that can strengthen our state’s economic resilience.”
The bill includes strict custody rules, requiring Bitcoin to be stored in multi-signature cold wallets. Selling the holdings would only be permitted during a severe financial crisis and with approval from two-thirds of the state legislature.
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North Carolina joins growing trend among states
According to Bitcoin Laws, 41 Bitcoin-related bills have been introduced across 23 states this year, and North Carolina is also signalling its intention to join the growing list of states exploring cryptocurrency investments.
With the federal government also taking steps—such as President Trump’s recent executive order on a Strategic Bitcoin Reserve—the push for crypto adoption in public finance shows no signs of slowing down.
As debates continue, North Carolina’s proposals could set a precedent for how states integrate digital assets into traditional financial systems.
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