North Carolina lawmakers are considering investments in Bitcoin and gold as a way to bolster the southern state’s coffers, passing a bill on Wednesday that would fund a study digital assets and precious metals.
Under the bill, the state would assess how holding digital assets and precious metals could help the state’s General Fund—essentially, the state’s bank account—hedge against inflation, reduce portfolio volatility, and yield better returns over time. The bill highlights systematic credit risks as a potential reason to hold Bitcoin and gold.
All 67 Republican members present in the House on Wednesday voted in favor of the bill to study Bitcoin and gold, while six Democrats also gave a nod of approval. A majority of Democrats, however, opposed the initiative with 40 negative votes.
