The Bitcoin Investment Act in North Carolina will create an investment management agency that allows state funds to invest 5% in digital assets

ChainCatcher message, Bitcoin Laws posted on social media revealing the details of the Bitcoin investment bill in North Carolina, namely House Bill 506, which will create a new independent North Carolina Investment Management Authority (NCIA) led by the state treasurer.

The NCIA will have the authority to invest 5% of various funds within the state into digital assets.

North Carolina's HB506 bill does not actually create a "Bitcoin reserve." However, in terms of tracking direct investments by the state government, it meets the requirements of the SBR (State Bitcoin Reserve) tracking list.