North Carolina is making a significant move towards adopting Bitcoin as part of its fiscal strategy with the introduction of SB327.
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This bill allows the State Treasurer to invest up to 10% of the state’s public funds into Bitcoin (BTC) as a way to diversify and strengthen its reserves.
The bill comes with specific guidelines to ensure the safe management and transparency of the Bitcoin holdings. It mandates that the cryptocurrency be stored in multi-signature cold wallets for enhanced security.
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Regular audits will be conducted monthly to maintain transparency and verify the holdings, reinforcing the state’s commitment to accountability. Furthermore, the sale of Bitcoin will be heavily restricted, only permitted in cases of dire financial need, and under strict guidelines.
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With SB327, North Carolina is joining a growing trend across the United States, where several states are looking into integrating Bitcoin into their financial frameworks.
This movement reflects the increasing interest in digital assets as a hedge against inflation and a step towards more diversified state reserves. The bill aligns with broader discussions on adopting crypto-friendly policies at the state and national levels.
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Alexander Zdravkov
