North Carolina Bitcoin Reserve and Investment Act

SB 327 would establish a strategic Bitcoin reserve for North Carolina and place Bitcoin acquired with authorized public funds into that reserve. The proposal frames the reserve as a financial innovation strategy and would give the State Treasurer authority to use Bitcoin-backed investment strategies, including lending and other regulated yield-generating activities. The text also refers to staking; editors should preserve that wording as bill language rather than treating it as a technical description of native Bitcoin.

• Allocation authority: The Treasurer would be authorized to allocate up to 10% of public funds into Bitcoin.
• Reserve structure: Bitcoin acquired under the authority would be placed into a dedicated Bitcoin Reserve.
• Long-term purpose: The reserve would be managed as a strategic asset rather than as a general payment account.

The bill would require the Treasurer to manage the reserve using cold-storage wallets with multi-signature authentication. It would also require the creation of a department within the Treasurer’s office to hold custody of the reserve, with the stated aim of keeping management and direct asset control within a state entity. In addition, SB 327 would create a Bitcoin Economic Advisory Board composed of industry experts to provide ongoing guidance.

For accountability, the bill would require monthly audits covering the reserve’s status, balance, security and financial performance. It would also call for state-backed insurance policies addressing cyber threats and economic downturns. Separately, the Treasurer would have to submit quarterly reports to the General Assembly and publish those reports on the Treasurer’s website.

SB 327 would direct Bitcoin acquisition through strategic bulk purchases on regulated U.S.-based cryptocurrency exchanges. The text also directs the Treasurer to explore Bitcoin mining operations as a possible way to increase state holdings. These provisions are framed as proposed authority and process requirements; they do not authorize any purchases unless the bill becomes law.

The bill would limit use of the reserve to specified circumstances. Covered uses include severe financial crisis response when alternative reserve assets are insufficient, state-approved investment strategies, infrastructure and economic development projects approved by the General Assembly, Bitcoin-related research and business incentives, and bond backing for public projects. Liquidation of reserve Bitcoin would require approval by at least two-thirds of members of both chambers present and voting.

S327 was filed on March 18, 2025, passed first reading in the Senate on March 19, 2025, and was referred that day to the Senate Committee on Rules and Operations. LegiScan lists the bill as introduced and pending in that committee, and its vote page reports no roll call records currently on file. The latest bill draft listed by LegiScan is the March 19, 2025 amended PDF, while the North Carolina source links include filed and first-edition bill text.

SB 327 includes an express compliance clause requiring the Treasurer to comply with applicable federal and state laws regarding cryptocurrency holdings and taxation. For taxonomy and editorial purposes, the bill fits primarily under Government Crypto Holdings, Custody, Mining, and Taxation & Reporting. It is a state bill, not an enacted act, and it should not be described as creating a current North Carolina Bitcoin reserve unless the measure advances and becomes law.