North Carolina Considers Bitcoin Allocation for Public Funds

According to BlockBeats, North Carolina is evaluating a proposal under the Bitcoin Reserve Bill SB327, which would permit the state treasurer to allocate up to 10% of public funds to Bitcoin. The bill outlines specific measures for managing these assets, including the use of multi-signature cold storage for custody and monthly audits to ensure proof of reserves. Additionally, the bill stipulates that Bitcoin holdings can only be sold under strict conditions during severe financial crises. North Carolina's general fund currently holds $9.5 billion.