North Carolina House of Representatives Introduces New Bill Seeking to Invest Up to 10% of Public Funds in Bitcoin ETFs
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Odaily report: North Carolina Representative Deborah Ross has introduced a new bill seeking to have the state treasurer invest up to 10% (over $10 billion) of state funds and pension systems in a Bitcoin ETF. While the legislative draft does not specifically mention Bitcoin, it proposes that the state treasurer invest in exchange-traded products that track digital assets, with an average market capitalization of at least $750 billion over the past 12 months. Currently, more than 10 U.S. states have introduced bills to invest public funds in digital assets such as Bitcoin or stablecoins, with Montana, Maryland, and Kentucky recently submitting such bills. However, the scope and depth of the proposed investments vary by state, with some allowing direct investment in cryptocurrencies and others even directly mentioning Bitcoin. (Decrypt)
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