North Dakota lawmakers introduced a House Concurrent Resolution (HCR) on Jan. 7, encouraging the State Treasurer and the State Investment Board to include digital assets and precious metals in the state treasury’s portfolio to hedge against inflation.
HCR3001 is sponsored by six Republican Representatives, two Senators, including Rep. Todd Porter and Rep. Todd Olson. Sen. Jeff Barta and Rep. Bob Paulson are also sponsors.
This resolution also includes funds for the budget stabilization, state general, and Legacy Fund. This resolution also includes funds for the budget stabilization and legacy fund.awmakers aim to future-proof the state’s financial resources against inflation and other uncertainties by encouraging investments in digital assets and precious metals.
In a nod to transparency, the resolution directs the Secretary of State to forward copies of the proposal to the State Treasurer and members of the State Investment Board, emphasizing the legislature’s commitment to facilitating a more diversified and resilient treasury.
Although the resolution doesn’t mandate any action, it reflects an increasing interest on behalf of state governments who are exploring cryptocurrency as a viable component in their public investment portfolios.
Two days in a row
Keith Ammon of New Hampshire’s State representative introduced legislation Jan. 9 that would add digital assets to state treasury. The treasury can allocate as much crypto as $360 million if approved.
Noteworthy, only stablecoins and crypto assets with market caps above $500 billion in the average of the previous 12 months are allowed to be invested. Bitcoin (BTC), which meets this requirement, is the only crypto that can be invested in.
New Hampshire’s bill is very similar to North Dakota’s legislation which does not mention Bitcoin.
Dennis Porter – the cofounder and CEO of Satoshi Action Fund – who has helped with both projects explains that there are some US States which require a Bitcoin. “tech-neutral bills” Not allowing Bitcoin to be mentioned.
North Dakota’s bill is the latest state to try to pass a plan for a Bitcoin Strategic Reserve.
Mike Cabell is also the representative for New Hampshire On the other hand, Rep. Giovanni Capriglione, a Pennsylvania Representative, has announced similar plans for November 14, 2024. Following the aforementioned A bill was presented in Texas less that one month after.
Alabama’s State Auditor, Andrew Sorrell, recently Created by: Jimmy Patronis, Florida’s Chief Financial Officer and a BTC Strategic Reserve Advocacy For the same decision.
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