Introduction
Have you ever imagined your retirement savings being invested in Bitcoin or other cryptocurrencies? In North Carolina, USA, this could soon become reality. Lawmakers recently introduced two new bills—House Bill 506 (HB 506) and Senate Bill 709 (SB 709)—proposing to allocate 5% of certain pension funds to crypto assets and establish an independent investment authority. Earlier, HB 92 and SB 327 paved the way for Bitcoin investments. What does this mean for residents and the state’s financial future? Let’s dive in!
HB 506 and SB 709: A Breakthrough in Cryptocurrency Investment
Key Details of HB 506 and SB 709
On March 24 and 25, 2025, North Carolina lawmakers introduced HB 506 (led by Rep. Brenden Jones) and SB 709 in the Senate. Both bills aim to allocate 5% of certain pension funds to cryptocurrency assets like Bitcoin, stablecoins, or even NFTs. A standout feature is the proposal to create the “North Carolina Investment Authority,” an independent body tasked with evaluating and managing these investments. Unlike regulations in other states, these bills don’t set market cap criteria for digital assets, opening doors to a wide range of cryptocurrencies.
How They Differ from HB 92 and SB 327
Before HB 506 and SB 709, North Carolina introduced HB 92 (filed February 10, 2025) and SB 327 (filed March 18, 2025), allowing the state treasurer to invest up to 10% of public funds, including pensions, in Bitcoin via ETFs. However, HB 506 and SB 709 take a more cautious approach with a 5% cap and shift oversight from the treasurer to a new independent authority. This could enhance professionalism and reduce risks in the volatile crypto market.
| Bill | Allocation Percentage | Filing Date | Management Authority |
| HB 92 | 10% | Feb 10, 2025 | State Treasurer |
| SB 327 | 10% | Mar 18, 2025 | State Treasurer |
| HB 506 | 5% | Mar 24, 2025 | North Carolina Investment Authority |
| SB 709 | 5% | Mar 25, 2025 | North Carolina Investment Authority |
Why Is North Carolina Betting on Cryptocurrency?
Profit Potential from Bitcoin and Digital Assets
Bitcoin’s value has soared over the past decade, from cents to tens of thousands of dollars by 2025. Lawmakers like House Speaker Destin Hall believe investing in cryptocurrency could yield high returns, bolstering pension funds facing long-term financial strain. With North Carolina’s pension funds worth billions, even a 5% allocation could make a significant impact in the digital market.
Global Trends and Political Pressure
North Carolina isn’t alone—other U.S. states and countries worldwide are exploring crypto integration into public finance. Support from figures like Hall, coupled with over $100 million spent by the crypto industry on 2024 political campaigns, has fueled these new laws. North Carolina seems eager to lead this trend.
Risks and Challenges of Crypto in Pension Funds
Price Volatility and Asset Safety
Cryptocurrencies, especially Bitcoin, are notorious for price swings. One day they might jump 10%, only to crash the next. The State Employees Association of North Carolina (SEANC) warns that investing pension funds in digital assets could jeopardize the financial security of thousands of retirees. Plus, security concerns—like wallet hacks—pose major hurdles for the new authority.
Opposition from Some Lawmakers
Despite Republican backing, these bills face pushback. Some Democratic lawmakers and Senate leaders like Phil Berger argue for more study before committing. “I’m not sure if this is a good or bad idea yet,” Berger has said, reflecting caution among some politicians about this bold shift.
Impact on Residents and the Future of Pension Funds
Benefits for Retirees
If passed and successful, these bills could boost returns for North Carolina retirees, ensuring pension funds remain sustainable amid rising inflation. This is the vision lawmakers like Hall aim to achieve with these new laws.
Shifting Views on Public Investment
North Carolina’s crypto adoption could reshape how other states view public investment. A successful model here might inspire nationwide replication, marking a turning point in modernizing state finance.
Conclusion
North Carolina’s new bills—from HB 92 and SB 327 to HB 506 and SB 709—are ushering in a new era for cryptocurrency in pension funds. While they promise big opportunities, they come with real risks. Is this a bold leap forward or a financial gamble? Time will tell. What do you think about putting Bitcoin in pension funds? Share your thoughts and stay tuned for updates on these groundbreaking laws!
