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 something called cryptocurrency. This is a huge shift in how they usually manage their money. Let’s find out more about this interesting idea.
Why Cryptocurrency?
North Carolina wants to try cryptocurrency because they want to get better returns on their investments and make their pension fund more stable. The state’s pension plan has had some troubles meeting its financial goals, so lawmakers are looking for new solutions. Cryptocurrencies, like Bitcoin, have shown they can grow a lot, even though they can also be very unpredictable.
The Bill’s Plan
The bill they’re thinking about lets the state treasurer put up to 10% of the state’s money into digital assets, but only through something called exchange-traded funds (ETFs). This way, they spread their investments across many different cryptocurrencies instead of just one. The bill doesn’t force the treasurer to make these investments; they can choose if they want to or not.
People’s Thoughts
Some people think this could make North Carolina a leader in using new technology. Others are worried about the ups and downs of cryptocurrency markets. Other states like Wyoming have had similar ideas, but some of them didn’t work out.
Other States Are Thinking About This Too
North Carolina isn’t the only state thinking about investing in cryptocurrency. Many other states are considering it too. Some people even talk about having a national cryptocurrency reserve to help the U.S. be a leader in the digital economy.
Looking Ahead: A New Way to Invest
North Carolina is thinking about taking a big step into the world of cryptocurrency. This could be a new way for states to invest their money. We’ll have to wait and see what happens next, but it’s an interesting idea to think about!
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Sources:
– WUNC
– Congress.gov
– YouTube
– Happy Scribe
– WCNC