North Carolina has recently introduced legislation to establish a strategic Bitcoin reserve at the state level. This development aligns with a broader trend among several U.S. states exploring Bitcoin as a reserve asset amid growing institutional and governmental interest in cryptocurrency.
The bill in question is Senate Bill 327 (SB 327), titled the North Carolina Bitcoin Reserve and Investment Act. It was introduced on March 18, 2025, by Senators Todd Johnson and Brad Overcash (both Republicans). Authorizes the Office of the State Treasurer to allocate up to 10% of public funds into Bitcoin (BTC) as part of the state’s long-term financial strategy.
Bitcoin would be acquired through regulated U.S.-based cryptocurrency exchanges. Holdings would be secured in cold storage with multi-signature authentication for enhanced security. Establishes a Strategic Bitcoin Reserve with restricted uses, such as responding to financial crises, funding infrastructure, supporting Bitcoin-related research/economic development, or backing public project bonds.
Liquidation of Bitcoin requires approval from at least two-thirds of the General Assembly. Mandates quarterly public reports on the reserve’s status, value, and performance, plus compliance with federal/state crypto regulations.
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The bill passed its first reading in the Senate on March 19, 2025. It has been referred to the Rules and Operations Committee for further review. It remains in the early stages and has not yet been passed into law.
This is distinct from earlier efforts in the 2025 session, such as House Bill 92 (HB 92), the NC Digital Assets Investments Act, which passed the House in April/May 2025 (with a 71-44 vote) and allowed up to 5% allocation to crypto (potentially including Bitcoin via funds/ETFs), but focused more broadly on digital assets and pension investments rather than a dedicated Bitcoin reserve.
North Carolina joins other states like Texas, Arizona, New Hampshire, and others pursuing similar Bitcoin reserve or investment bills. This reflects momentum following federal-level discussions. Proponents argue it diversifies state assets, hedges against inflation, and positions North Carolina as a leader in crypto adoption.
Critics highlight Bitcoin’s volatility and potential risks to public funds.The bill is not yet law, and its fate depends on committee progress, further readings, and potential votes in the General Assembly. This could signal accelerating state-level adoption of Bitcoin as a strategic asset if it advances.
The BITCOIN Act is a key federal legislative proposal aimed at establishing a U.S. Strategic Bitcoin Reserve and related programs for managing government Bitcoin holdings. Senate Version: S. 954 (119th Congress, 2025-2026)Introduced: March 11, 2025. Lead Sponsor: Sen. Cynthia Lummis (R-WY). Co-sponsors: Includes Sens. Justice, Tuberville, Moreno, Marshall, and Blackburn (all Republicans). Companion House Bill: H.R. 2032 (introduced around the same time, with similar provisions).
The bill remains in the early stages. It was read twice and referred to the Senate Committee on Banking, Housing, and Urban Affairs on introduction. No further major actions; committee markup, hearings, or floor votes have advanced it significantly. It has not passed either chamber or become law.
This is a reintroduction/updated version of earlier efforts, building on a prior 2024 iteration; S. 4912 in the 118th Congress, which did not advance. The bill seeks to position Bitcoin as a strategic national asset, akin to gold reserves, to enhance financial resilience, hedge against instability, and promote U.S. leadership in digital innovation.
Key elements include: Establishment of Strategic Bitcoin Reserve: A decentralized network of secure, geographically dispersed cold storage facilities across the U.S. for holding government Bitcoin. Managed by the Secretary of the Treasury with ongoing monitoring, auditing, and transparency requirements.
Bitcoin Purchase Program: Directs the Treasury to acquire 1,000,000 Bitcoin over 5 years (200,000 per year) through transparent, market-sensitive purchases. Funding offsets via certain Federal Reserve resources or other mechanisms to avoid direct taxpayer burden.
Additional Bitcoin could come from forfeitures, gifts, or transfers, but not exceeding purchase limits via direct buying. Minimum holding period; long-term restrictions on sales to prevent short-term liquidation. Sales only for specific purposes like debt reduction, with limits; no more than 10% in any 2-year period recommended.
Handles forks, airdrops, and other events transparently. Annual reports for 20 years on program status. Comptroller General oversight and third-party audits. The BITCOIN Act aims to codify and expand on President Donald J. Trump’s March 6, 2025, Executive Order establishing a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.
That EO focused on using forfeited/seized Bitcoin; no new purchases funded by taxpayers to create reserves, treating Bitcoin as a strategic asset. Related proposals include: Bitcoin for America Act (H.R. 6180, introduced November 20, 2025, by Rep. Warren Davidson, R-OH): Allows federal taxes to be paid in Bitcoin, with proceeds directed to the Strategic Bitcoin Reserve.
State-level momentum; North Carolina’s SB 327, Texas purchases via ETFs, New Hampshire/Arizona laws mirrors federal interest. Proponents view it as a hedge against inflation and a step toward digital asset leadership. Critics raise concerns about volatility, fiscal risks, and opportunity costs for public funds.
The bill’s fate depends on committee progress, potential hearings, and broader crypto regulatory momentum; related stablecoin or market structure bills like the CLARITY Act or GENIUS Act. As of now, it represents ambitious but unrealized federal policy toward institutional Bitcoin adoption.