North Carolina, Bitcoin reserve bill passed in House plenary session

Bitcoin Reserve Bill passed the House and awaits Senate review in North Carolina (Source: @Bitcoin_Laws, X)

As the North Carolina House passed a bill allowing Bitcoin to be held as an official asset, the movement to actively integrate digital assets into financial strategies within the United States is becoming more pronounced. The recently passed House Bill 92 (H92) contains provisions allowing the state government to invest directly in Bitcoin and manage it as a strategic reserve asset.

This bill was spearheaded by House Speaker Destin Hall, with the goal of strengthening a state-level Digital Asset Reserve. This allows North Carolina to establish its own cryptocurrency policy separate from federal guidelines and prepare a foundation to use Bitcoin as a means to hedge against future economic uncertainties or currency value fluctuations.

The passage of the bill is evaluated as an example showing that digital assets are becoming practically reflected in state government long-term financial operations beyond mere investment authority. Such measures, coupled with similar legislative efforts ongoing in other states like Wyoming and Texas, indicate the phenomenon of cryptocurrencies being included in the budget management or reserve operations of each state is spreading.

As institutional approaches to cryptocurrencies within the United States extend beyond the federal level to local government units, this decision by North Carolina is likely to have ripple effects on other states. The trend of state governments assessing the safety and effectiveness of digital assets while establishing their own financial strategies is expected to continue.