North Carolina's Strategic Bitcoin Reserve Act has cleared its first formal reading in the state Senate. The proposal, identified as Senate Bill 327, passed that stage on March 19, 2026. If enacted, it would allow the state treasurer to place up to 10% of certain public funds into Bitcoin.
Bill brings Bitcoin into state-level treasury allocation
The measure is framed as part of a broader discussion about how the state manages long-term public money. According to the source material, North Carolina is dealing with a $16 billion pension shortfall, and supporters of the bill argue that a Bitcoin reserve could deliver returns that compare more favorably with bonds or cash. The article says backers also want the state to move early in digital assets rather than wait for other governments to set the template.
The legislation is still far from final passage. Even so, the first reading puts the question of whether a U.S. state should directly hold Bitcoin into a live legislative process.
Cold storage, multisig, and monthly audits form the custody framework
Custody rules are a central feature of the proposal. The bill would require the use of cold storage wallets, keeping the BTC offline, and it would also mandate multi-signature controls so that several parties must approve any movement of funds. That structure is intended to reduce both hacking risk and operational mistakes.
The source also describes a transparency layer. State holdings would be subject to monthly audits showing how much BTC is owned and what it is worth at the time of reporting. In addition, the proposal calls for a Bitcoin Economic Advisory Board to help guide the treasurer on whether to buy or hold.
Sales would be restricted and tied to legislative approval
The bill sets a high bar for selling any Bitcoin once acquired. Based on the article, sales would be permitted only during a major financial emergency. Even then, any sale would need a two-thirds vote in both the House and the Senate.
The same report says part of the gains could be directed toward roads, schools, and bridges. It also links the proposal to efforts to attract technology businesses and jobs into North Carolina, placing the reserve idea inside a wider economic policy discussion.
Other states are watching, while fiscal risk remains in focus
The article says Texas and Arizona are already monitoring North Carolina's progress. If the bill advances into law and the reserve model is adopted, it could influence similar state-level efforts elsewhere in the U.S. The source cites an analyst view that by 2027, aggregate state-level BTC holdings across the country could reach $2 billion.
At the same time, the report notes that reserve proposals carry material fiscal risk. Digital assets remain highly volatile, and including them in public funds could affect state credit ratings and increase taxpayer exposure.