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The U.S. State May Invest 950 Million in Bitcoin: There Are Two Obstacles, Here Are the Details! - Coin Bulletin
One of the U.S. states, North Carolina, has passed a new bill approving the allocation of 10% of state funds to Bitcoin (BTC) investments.
North Carolina State has taken an important step regarding investments in Bitcoin. The State Senate passed the bill numbered SB327. This bill gives the State Treasury the authority to invest 10% of public funds in Bitcoin. Currently, North Carolina's general fund is approximately $9.5 billion in size, and a portion of this fund can be evaluated with the cryptocurrency Bitcoin.
This legal change has the potential to alter the state's strategy regarding investment in Bitcoin. Although the bill has only passed the Senate, similar regulations are also present in the state's assembly. Both the House of Representatives and the Senate aim to approve similar Bitcoin reserve laws within this year.
If both laws are passed, North Carolina will become one of the first states to diversify state funds with digital assets by investing in Bitcoin and other cryptocurrencies. This stands out as a strategy aimed at benefiting from the future value increase of digital currencies like Bitcoin.