North Carolina Passes Bill To Integrate Bitcoin Into $127 Billion Pension Fund

The North Carolina House has recently approved two significant bills that aim to transform the management of the state’s pension fund, allowing for a modernized investment strategy that includes cryptocurrencies like Bitcoin (BTC). This legislative move comes in response to a $16 billion deficit in the pension system and a need for improved investment returns compared to other states. NC’s Investment Authority Could Allocate 5% Of Portfolio To Bitcoin House Bill 506 proposes the establishment of a five-member board, the North Carolina Investment Authority, which will oversee the state’s $127 billion investment portfolio. This board will be composed of the State Treasurer, who currently holds final authority over state investments, along with four other appointees source: https://www.newsbtc.com/bitcoin-news/north-carolina-passes-bill-to-integrate-bitcoin-into-127-billion-pension-fund/