In a strategic move to establish a crypto-friendly environment, the US state of North Carolina has passed the Strategic Bitcoin Reserve bill — House Bill 92 (HB 92), which enables the state to invest up to 5% of its funds into crypto. The bill permits the treasurer of the state to invest public funds in approved cryptocurrencies. However, the bill has not yet reached the Senate for final approval.
Destin Hall, the pro-Republican Speaker of the North Carolina House of Representatives, introduced the bill in February 2025, and the House enacted it through the Digital Assets Investment Act on its third reading on April 30. The bill secured a vote of 71 to 44.
Worth noting, the State Treasurer can invest cash in cryptocurrencies that are part of an exchange-traded product listed on stock exchanges such as NASDAQ, New York Stock Exchange (NYSE), or approved by the US Securities and Exchange Commission (SEC).
The status of state-wise bills in the US. Source: (Bitcoin Laws)
As shown in the image above, the status of North Carolina’s bill — NC (H) — indicates it has reached Committee 2, meaning it has passed third reading but hasn’t yet reached the Senate. Likewise, the New Hampshire Reserve Bill and the Texas Reserve Bill follow the same status as that of NC.
In a related development, Arizona became the first state to allow local governments to invest in crypto. That said, North Carolina is the second state to achieve this goal. The Arizona legislature gave nods to two bills, SB 1025 and SB 1373, which allow the state’s treasurer and retirement systems to invest in a crypto reserve. Although the House and Senate have passed the bill, it is currently waiting for a final green light from Governor Katie Hobbs.
Furthermore, Roswell became the first US municipality to introduce a Strategic Bitcoin Reserve with 0.0305 Bitcoin priced at $2,906 at the time of adoption, adding more power to the crypto bill adoption race.
