North Carolina has joined a growing list of states seeking to legalize digital currencies, but according to Dan Spuller, this effort stands apart from the rest.
More than a dozen U.S. states have introduced legislation to permit holding Bitcoin (BTC) as a strategic reserve. North Carolina is the latest to join the push with the introduction of HB 92.
The bill would allow state lawmakers to invest up to 10% of the state’s funds into exchange-traded products tied to digital assets with a market capitalization exceeding $750 billion. It also authorizes Bitcoin investments for state-managed funds, including teachers’ and state employees’ pensions, insurance funds, and veterans’ home trust funds.
Read more: Illinois may become first U.S. state with an official Bitcoin Reserve
What makes North Carolina’s bill unique is that it was introduced by Rep. Destin Hall, Speaker of the NC House of Representatives. As noted by Dan Spuller, Head of Industry Affairs at the Blockchain Association, Hall is “one of NC’s most powerful leaders.”
As promised, North Carolina’s Strategic Bitcoin Reserve legislation was introduced today.
This is a big deal. Let me explain:
📜 HB 92 bill was personally introduced by House Speaker @DestinHall—one of NC’s most powerful leaders. Top of the food chain.
It will directly… pic.twitter.com/QtS6Kj8CKu
— Dan Spuller (@DanSpuller) February 10, 2025
The bill is co-sponsored by Representatives Mark Brody and Steve Ross, described by Spuller as “longtime Bitcoin champions.”
Spuller revealed in an X post in late January that he advised North Carolina officials on the bill. At the time, he noted that the process was “moving quickly, and most importantly, the right stakeholders are aligning.”
“This won’t just be a ‘messaging bill’—it’s a plan in motion,” he added.
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