North Dakota Considers Adding Crypto to State Treasury, Will It Be Bitcoin?
Following other states, North Dakota has joined a growing number of U.S. states exploring cryptocurrencies as part of their financial strategies. Bitcoin proposal. Lawmakers recently introduced a resolution aimed at integrating digital assets and precious metals into state coffers to protect against inflation and economic uncertainty.
Recommendations on diversification of national investments
January 7, North Dakota legislators propose House Concurrent Resolution (HCR) 3001. The resolution recommends that the state’s Secretary of the Treasury and Investment Commission invest in digital assets and precious metals to protect critical funds, including the state’s general fund, budget stabilization fund and legacy fund.
The move is seen as a way to strengthen the country’s fiscal future and mitigate inflationary risks.
However, the proposal, sponsored by six representatives and two senators, focuses on creating a more diverse and stronger Treasury Department. While the resolution does not require immediate action, it demonstrates lawmakers’ growing interest in adopting innovative financial tools.
Transparency and wider trends
To ensure transparency, the resolution requires that copies be sent to the state treasurer and investment committee members. Interestingly, the proposal does not directly mention Bitcoin, following a trend of state legislation using “technology-neutral” language.
In New Hampshire, for example, a bill introduced on January 9 promotes digital asset investment, explicitly allowing only cryptocurrencies with a market capitalization of more than $500 billion. This criterion actually makes Bitcoin a prime candidate.
Other countries embrace cryptocurrencies too
North Dakota isn’t the only state pushing for this effort. States such as Pennsylvania, Texas, Alabama and Florida have recently explored establishing Bitcoin strategic reserves. These efforts reflect growing acceptance of Bitcoin’s potential as an inflation hedge and store of value.
With support from organizations like the Satoshi Action Fund, countries are exploring digital assets to enhance financial stability.
If North Dakota moves forward with this proposal, it could set an example for other states on how digital assets can play a role in strengthening public finances and addressing economic challenges.
