The North Carolina House passed House Bill 92 by 71 votes to 44 on April 30, 2025, authorizing the state treasurer to invest retirement funds into digital assets.
This legislative move could mark a notable shift in public pension investment and potentially influence broader institutional adoption of digital assets.
State Treasurer Granted Authority to Invest in Crypto
House Bill 92 allows the North Carolina State Treasurer to allocate up to 5% of retirement funds into crypto. Initiated by primary sponsor Mike Schietzelt, the bill passed its third reading, reflecting legislative acceptance. Brad Briner, the state treasurer, would gain the authority to diversify state funds into digital assets like cryptocurrencies, NFTs, and stablecoins, though without obligation. This represents a significant potential shift in fiscal strategy.
“What this does is allow the state treasurer to do his job. It doesn’t direct him to invest in anything, but it simply opens up one more asset class that the state can take advantage of to ensure the long-term fiscal health.” —Mike Schietzelt
Mixed Reactions to Crypto Investment Authorization
The bill’s passage was met with mixed reactions. Some lawmakers, particularly Rep. Tracy Clark, voiced concerns about crypto volatility affecting retirement funds, describing it as akin to gambling with pensions.
“Investing in crypto would effectively represent gambling with state employees’ retirement funds.” —Tracy Clark
Should this lead to active crypto allocations, it might prompt broader institutional involvement. Observers are watching for signs of market trends, although no direct capital movements have been reported post-authorization.
North Carolina Follows Virginia’s Crypto Investment Example
Similar efforts were seen in Virginia’s Fairfax County, with smaller allocations in crypto strategies. North Carolina’s move might set a benchmark for large public pension involvement in digital assets. Experts highlight the significance of this potential shift towards digital investments. Kanalcoin analysts suggest careful monitoring of impacts, as previous efforts have underscored both risks and diversification benefits.
| Disclaimer: This website provides information only and is not financial advice. Cryptocurrency investments are risky. We do not guarantee accuracy and are not liable for losses. Conduct your own research before investing. |
