North Carolina’s Big Idea: Investing in Cryptocurrency
North Carolina’s lawmakers are thinking about a big change. They want to invest some of the state’s pension money in cryptocurrency. This is a huge shift in how the state handles its money. Let’s dive into this exciting new idea!
Why Cryptocurrency?
North Carolina wants to try cryptocurrency because it thinks it could help the state’s pension plan do better. The pension plan has had some trouble meeting its goals, so lawmakers are looking for new solutions. Cryptocurrencies, like Bitcoin, have shown they can grow a lot, even if they’re also known for being a bit unpredictable.
The Plan’s Details
The bill they’re thinking about lets the state treasurer put up to 10% of the state’s money into digital assets. But they can only do this through something called exchange-traded funds (ETFs). This way, the money is spread out among different cryptocurrencies, not just one like Bitcoin. The treasurer can decide if they want to do this or not, so it’s not a must.
What People Think
Some people think this could make North Carolina a leader in using new technology. They also hope it might help the state’s pension fund do better. But other people are worried about how unpredictable cryptocurrency can be. Some other states, like Wyoming, have said no to similar ideas.
Other States are Thinking About This Too
North Carolina isn’t the only state thinking about cryptocurrency. More than 20 other states are considering it too. Some people even think the U.S. should have its own cryptocurrency reserve to help it be a leader in the digital world.
North Carolina’s Big Step into the Future
North Carolina is taking a big step into the unknown with this cryptocurrency investment idea. We’ll have to wait and see what happens next, especially since the state Senate hasn’t said yes yet. But this is a big moment for North Carolina and for other states thinking about doing the same thing.
Sources: WUNC, Congress.gov, YouTube, Happy Scribe, WNCN
