North Carolina Congressman Proposes New Bill Seeking to Invest Up to 10% of Public Funds in Bitcoin ETFs

Odaily Planet Daily News: North Carolina Congressman Deborah Ross has proposed a new bill seeking the state Treasury Secretary to invest up to 10% (over $10 billion) of the state's funds and retirement system in Bitcoin ETFs. Although the legislative draft does not specifically mention Bitcoin, it proposes that state finance ministers invest in exchange traded products that track digital assets with an average market value of at least $750 billion over the past 12 months. At present, more than ten states in the United States have proposed bills to invest public funds in digital assets such as Bitcoin or stablecoins. Montana, Maryland, and Kentucky just submitted such bills last week. However, the scope and depth of these proposed investments vary by state, with some allowing direct investment in cryptocurrencies and some even mentioning Bitcoin directly. （Decrypt）