BTC

$108173.605

3.38%

ETH

$3372.195

7.10%

XRP

$3.306

7.18%

BNB

$696.365

1.71%

News

North Dakota State Is Now Considering Bitcoin As A Reserve Asset

2 mins mins

Key Points:

  • North Dakota State introduced a resolution to invest state funds in digital assets and precious metals.
  • The resolution does not specifically mention Bitcoin but encourages investments in digital assets.
North Dakota State has joined the growing list of U.S. states that want to include Bitcoin in their financial strategy.
North Dakota State Is Now Considering Bitcoin As A Reserve Asset

Read more: 20 State-Level “Strategic Bitcoin Reserve” Bills Will Be Proposed in U.S.

North Dakota State to Consider Investments in Digital Assets for State Treasury

The legislature of the North Dakota State introduced a resolution, HCR3001, on Friday, which would invest in “digital assets and precious metals” some of the important state funds such as the general fund, budget stabilization fund, and the legacy fund.

The resolution, which was put forward by six Republican Representatives and two Senators, doesn’t name Bitcoin but does advocate for investments into digital assets.

The broad nature of the language within the proposal is reminiscent of the legislation introduced by New Hampshire, which doesn’t directly mention Bitcoin but instead creates market cap criteria that would essentially make it the only qualified cryptocurrency for state investment.

Satoshi Action Fund CEO Dennis Porter, who backed both bills, said that some states favour tech-neutral bills that do not directly name Bitcoin in order to reduce political friction.

Bitcoin Reserve Discussions Gain Traction Amid Growing Interest

Though North Dakota’s resolution does not include explicit market cap requirements like New Hampshire’s, it directs the state’s Treasurer and Investment Board to consider investing in digital assets.

Discussion of a Strategic Bitcoin Reserve has been gaining momentum, especially after presidential candidate Donald Trump promised to turn the U.S. into a global crypto hub, including through the purchase of large Bitcoin reserves by the Treasury Department.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Rate this post
Follow us on Google News

Bitcoin

BTC

Donald Trump

North Dakota

Avatar of Harold

Harold

11 January 2025, 04:26:00 GMT +0000

With a passion for untangling the complexities of the financial world, I’ve spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. “The financial markets are a fascinating puzzle,” I often say, “and I love helping people make sense of them.” That’s what drives me to bring clear and insightful financial journalism to the readers of Coincu.